Can you avoid the 3% additional rate of SDLT?

[Dave Murphy]

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

[Patrick]

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

[Author]

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