Stamp Duty following Separation

cluelessspender

Myself and my partner have jointly owned our home of 10 years and both own no other property. We have recently divorced and in recent months I moved out of the property and stay with a friend whilst she remains in the property.

I will be buying my now ex wife out of our house and wondered if stamp duty would be applicable. Property price would be in region of £270,000. Obviously I will be taking professional advice but wondered if anyone had experience in this scenario and could share any info which would give me an idea of what maybe involved.

Thanks

Woodstok2000

From HMRC (assuming youre in England):

If you transfer property because of divorce, separation or the end of a civil partnership

You do not pay Stamp Duty Land Tax if you transfer an interest in land or property to your partner as part of an agreement or court order because you’re either:

• divorcing
• dissolving a civil partnership

This also applies if the partners either:

• annul their marriage
• legally separate

In these cases there’s no need to tell HMRC about the transfer, even if the value is more than the Stamp Duty Land Tax threshold.

sheramber

Note

You do not pay Stamp Duty Land Tax if you transfer an interest in land or property to your partner as part of an agreement or court order.

Are you buying her out as part of a Financial Agreement?

mills112

You need a financial order from the court through the asset split process. Or a separation agreement that has been done through the solcitors.