• Multiple (5) Jointly Owned Land For Land Transfers

    By Guest on 13th Dec 2023

    If two, unmarried people, jointly own 5 properties (each 50/50) and they wish to trade so 1 owns 3 properties and the other owns 2 properties with a c.£100k topup, could this be a simultaneous transaction without the need for stamp duty?

  • 1 Answers

    By Guest on 20/12/2023

    No. Both parties will pay SDLT which will be based on the actual consideration, in money or money's worth, received by each party - so £100K plus half the value of 2 properties for one and half the value of the 3 properties for the other. If you are operating a property partnership business (you are not automatically doing so just because you have properties that you let) then the special rules contained in schedule 15 of the Finance Act 2003 may apply. You should seek specialist advice.

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