BTL Property Transfer to Spouse - Higher Rate Stamp Duty?

sallythassos

Hi, 

My husband owns a BTL property and to share the CGT liability when we sell we are looking at adding me to the Mortgage and the Deeds. The property is valued at circa £280K and there is currently £98K on the mortgage. I will take on a 50% share of the mortgage but no other money will change hands.

I own the property we live as our main residence (my husband isn't named on the mortgage or on the title deeds)

We have received lots of conflicting information as to whether we will have to pay SDLT and at what rate on the consideration of £49K in respect of the mortgage. 

has anyone done a similar transaction who could confirm what SDLT,if any, would be payable?

Does anyone have any thoughts on how to structure the transactions so that SDLT wouldn't be payable?

Many Thanks

SDLT_Geek

sallythassos said:

Hi, 

My husband owns a BTL property and to share the CGT liability when we sell we are looking at adding me to the Mortgage and the Deeds. The property is valued at circa £280K and there is currently £98K on the mortgage. I will take on a 50% share of the mortgage but no other money will change hands.

I own the property we live as our main residence (my husband isn't named on the mortgage or on the title deeds)

We have received lots of conflicting information as to whether we will have to pay SDLT and at what rate on the consideration of £49K in respect of the mortgage. 

has anyone done a similar transaction who could confirm what SDLT,if any, would be payable?

Does anyone have any thoughts on how to structure the transactions so that SDLT wouldn't be payable?

Many Thanks

The extra 3% SDLT for additional properties does not apply to transfers between spouses who are "living together", even of a property they do not live in.  https://www.gov.uk/hmrc-internal-manuals/stamp-duty-land-tax-manual/sdltm09820