We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Removing Sibling from Property Deeds - am I liable for SDLT on her share?
KiranMac
Posts: 8 Forumite
in Cutting tax
Hi there, my sister and I are joint owners of our flat, she is gifting me her share and there is a mortgage that I will cover myself (and can afford to). My question is, is there any SDLT I will owe, even though I paid it when we bought the place?
Many thanks,
Many thanks,
0
Comments
-
I suspect that the transaction is actually your sister selling you her half of the property for an amount equal to her share of the outstanding mortgage, in which case this is the figure used in working out what, if any, stamp duty is payable.
There may be capital gains tax unless the property is your sister's main residence. It is also a gift for inheritance tax purposes, which might be relevant if your sister died within seven years of the gift.0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.3K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.2K Work, Benefits & Business
- 603.9K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards