Stamp duty

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    Stamp duty

    My nan is buying a second property cash. She plans to let my brother live there rent free.

    She will have to pay the new stamp duty 3% as it will go through after the date of the new rules in April.

    My question is. When she completes her self assessment tax return for 2016/2017 will she be able to put this stamp duty cost down as an expense to reduce her income and the amount of tax she will be due to pay??

    #2
    No she can not. This is not a rental expense (and there is no rental income in any case even if it was).

    She will have to pay CGT when the property is sold and she can offset stamp duty against any gain.

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      #3
      If there is no rent, you cannot claim any expenses .

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