• Does The Recipient Of A Gifted Property Need To Pay Stamp Duty Regardless Of Owning Another Property

    By Guest on 27th Jan 2021

    I already own my principle home and I have another property that I rent out, on receipt of the then Gifted property from my father, would I still have to pay Stamp Duty of 3 % ?

  • 1 Answers

    By Guest on 28/01/2021

    I think I found the answer online as below :-

    You're given property as a gift
    If you get property as a gift you won't pay SDLT as long as there's no outstanding mortgage on it. But if you take over some or all of an existing mortgage, you'll pay SDLT if the value of the mortgage is over the SDLT threshold.

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