Stamp duty question for joint ownership?

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    Stamp duty question for joint ownership?

    Hi,

    I am intending to buy a residential property with a joint mortgage with my partner to live in. I previously owned a residential property which I sold in March 2016 and currently I own a btl property which is rented.
    My partner is a first time buyer and I am not, at present I do not own a residential property and I am wondering if on a purchase price of £400,000 the stamp duty will be £10,000 or £22,000?

    I really appreciate if someone could please clarify that.

    Many Thanks

    Z

    #2
    £22,000

    The flowchart in the picture explains why (except that 18 months is now 36 months)

    Stamp duty.jpg

    Comment


      #3
      According with the pic I shouldn't pay the high rate because at the end of the day of the transaction I will own 2 properties, but the second property bought together with my partner replace my main residence (which has been sold 2 months ago). So we should pay £10k correct?

      Comment


        #4
        If you still own the BTL, then you will own 2 properties.

        Comment


          #5
          I have just called hmrc and they told me that having sold my residential property last month I have now 35 months left to buy a new main residential property paying the basic stamp duty rate even if I own other BTL properties.
          Can anyone confirm this?

          Comment


            #6
            Which department did you telephone at HMRC and do you have the phone number?

            Comment

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