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Home Forums Patrick Cannon Is SDLT payable when mother and son swap houses? Reply To: Is SDLT payable when mother and son swap houses?

#806
Patrick
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The strict position is that both pay tax on £225K. However based on the concessionary treatment outlined in SDLTM04020A the mother would pay tax on £225k and the son on £150k on the basis that he has made a gift to his mother of the difference in value between what he is transferring and what he is receiving. Logically the mother should also pay tax only on £150k because she has received a gift of £75k but the concession only seems to go so far. In this instance I don’t think that the mortgage repayments affect the position.