• Will I Have To Pay The Higher Stamp-duty Tax?

    By Guest on 19th Aug 2019

    I own 1/6th of my mom's home in Trinidad. The cost of the house is £150000, would I be charged the higher rate of the stamp duty?

  • 1 Answers

    By Guest on 20/08/2019

    The HMLR guidance states: "That major interest must have a market value of more than £40,000 and not be reversionary on a lease with more than 21 years until expiry"

    As 1/6th of £150,000 (assuming this is the correct current market value of the property) is less than £40,000 the answer on the facts you provide above is likely to be "no".

    www.notaryexpress.co.uk

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