• Add Partner To Deeds To Avoid Additional Stamp Duty Premium

    By Guest on 02nd Apr 2019

    I currently own a single property which is my main residence, valued at approximately £75,000. My partner and I plan to buy a new house and I am considering keeping my current home and converting it into a holiday let. If I add my partner to the deeds of my current home, that would mean we each have a share of approximately £38,000 i.e. less than £40,000. Does that mean we could avoid additional stamp duty on the new home since our individual shares in existing property would be less than £40,000?

  • 1 Answers

    By Guest on 03/04/2019

    I advise you seek professional tax advice e.g. from M&A Partners.

    From my personal opinion I believe that:

    > If you own it as Joint Tenants you own the whole lot 100% each so you would both have a £75,000 interest
    > If you own it as Tenants In Common but are married then your values are pooled so again you have £75,000
    > You would need to own it as Tenants In Common (50% shares each) and not be married to have less than a £40,000 interest each

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