Transfer of equity & SDLT on subsequent purchase

masca

Hi. I'm trying to get a situation straight in my head and hope some wise people here might be willing to confirm my understanding before any expensive mistakes are made, legals instructed, etc. I feel that this should be a relatively common situation, but searching hasn't really provided a definitive answer...

Unmarried couple Mr A & Miss B jointly own Property A as their primary residence with no mortgage and no other property.

Mr A gifts his share by transfer of equity to Miss B, making Miss B the sole owner. 

As there is no chargeable consideration on the transfer, no SDLT liability is triggered.

Due to Private Residence Relief, there is also no CGT liability on the transfer.

The effective date of transaction (EDT) is the date Mr A enters on the TP1 (i.e.: effectively at Mr A's discretion).

Mr A subsequently completes purchase of Property B next day (EDT+1) before Land Registry (LR) have processed TP1 for Property A.

On EDT+1, for the purpose of SDLT, Mr A is deemed to own just one property, Property B, regardless of LR processing times.

Is the above all correct? Thanks in advance.

Bookworm225

as an unmarried couple, yes that is correct 

Miss B owns A
and Mr A owns B
one property each so no higher rate SDLT on purchase of B by A 

masca

Bookworm225 said:

as an unmarried couple, yes that is correct 

Miss B owns A
and Mr A owns B
one property each so no higher rate SDLT on purchase of B by A 

Thank you!  Glad to get a reassurance that my understanding is correct.