• SDLT And Capital Gains Tax Implications

    By Guest on 16th Sep 2019

    I co-own 50:50 a second residential property and wish to transfer my share of equity to the other owner (2-1 transfer). The property is mortgaged and it is my share of the mortgage (36K) that would be transferred to the other owner. Will either party be liable for SDLT or Capital Gains Tax

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    By Guest on 17/09/2019

    If it is just the mortgage share of £36,000 being transferred then that is under the SDLT threshhold of £40,000 and no SDLT return needs to be filed, meaning no SDLT would be payable.

    We advise you check the tax position with a tax adviser or accountant, particularly with regard to CGT.

    www.notaryexpress.co.uk

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