Stamp Duty Land Tax

Johnthedog68

Hello all, I would welcome your thoughts an knowledge please. I own 2 small properties that I rent out and I live with my partner in her house (not married), where I am registered to vote and pay a contribution to household bills. IF I bought a 3rd property (at auction), would i need to pay SDLT on the purchase which will be below the lowest threshold and before the rules change on 1/4/25 ? Thanks in advance all.

Keep_pedalling

Yes, you will pay the higher rate of 5% as this is an additional property.

Going off at a tangent, if you are planning to leave your properties to your partner you might like to consider your marital status as IHT is likely to be a major issue.

SDLT_Geek

Keep_pedalling said:

Yes, you will pay the higher rate of 5% as this is an additional property.

Going off at a tangent, if you are planning to leave your properties to your partner you might like to consider your marital status as IHT is likely to be a major issue.

That is right for SDLT, assuming the price is £40,000 or more, then SDLT will be due.  If completion is by 31 March 2025 the first £250,000 will be at 5% and the rest at a higher marginal rate.  Completing after 31 March 2025 the higher marginal rates come in beyond £125,000.