Can you avoid the 3% additional rate of SDLT?

Home Forums Patrick Cannon Can you avoid the 3% additional rate of SDLT?

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    Dave Murphy
    Guest

    Hi,

    I have a couple (A&B) who are both 50% owners of a flat and are unmarried with a ?220k mortgage outstanding.

    A wants to gift his share of the property to his partner B.

    B will then take out a mortgage (could be residential or buy to let) with the flat as their main residence

    A will then purchase their own property as their main residence.

    Is this ok from a SDLT & CGT perspective? i.e no 3% surcharge and neither property would be subject to CGT upon future disposal?

    Thanks,

    Dave

    #772 Reply
    Patrick
    Guest

    If the flat is the couple’s current main residence then yes this looks ok .

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