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Oops, I must have misunderstood this
https://www.gov.uk/hmrc-internal-manuals/stamp-duty-land-tax-manual/sdltm30100
I think I'll reread everything tomorrow!0 -
You should look at the rules for SDLT on exchanges of property interests (each party pays SDLT on at least the value of what they acquire).
Also at the rules for "partitions" of jointly held properties where there is a relief.0 -
Thanks SDLTGeek.
I looked up the example 4 mentioned above and it gave the position re splitting a property. Do you know if this would this still apply where it is splitting two separate properties, one each? Otherwise maybe a 99%,1% split?0 -
Thanks again, found the following links that seem to apply. So probably some stamp duty but no more punitive than most taxes. Could reduce CGT as well, possibly, maybe!
https://www.taxinsider.co.uk/381-Splitting_Land_or_Property.html
https://www.gov.uk/hmrc-internal-manuals/stamp-duty-land-tax-manual/sdltm040300
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