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  • SDLT relief for multiple dwellings
    by BIGGYBIBIG
    Hello everyone,
    I have had an offer accepted on a property purchase, subject to a surveyors report of £395,000 in England.


    I am currently looking at surveyors but i just wanted to know where i stand in terms of stamp duty, costs etc.

    I have phoned 5 different solicitors
    ...
    10-08-2022, 19:20 PM
  • Reply to SDLT relief for multiple dwellings
    by BIGGYBIBIG
    Thank you, so am i right in saying Because I already own a property it would be 3% which is the higher rate band?
    As the
    SDLT relief for multiple dwellings would still apply but at the higher rate bracket?...
    10-08-2022, 23:25 PM
  • Reply to SDLT relief for multiple dwellings
    by DoricPixie
    As you already own a residential dwelling which is presumably worth over £40,000 the higher rate of SDLT will apply to your multiple dwelling SDLT calculation.

    https://www.gov.uk/hmrc-internal-man...ual/sdltm09766
    10-08-2022, 22:50 PM
  • Reply to SDLT relief for multiple dwellings
    by BIGGYBIBIG
    I don`t make the rules my friend,,, i could easily have bought a block of flats the other day,,, tenanted by most of them for over 5 years 10 years 12 years etc,,, all long term but the state of the place i would not let my dog live like that,,, if it were all about money that would have been a great...
    10-08-2022, 19:44 PM
  • Reply to SDLT relief for multiple dwellings
    by AndrewDod
    I don't know the answer, but if true this would be an absolute outrage.

    Some little kid buying their own home where granny left them a quarter of a house that is rented out pays 3% additional tax

    Someone who buys 8 properties pays 1%

    Pity us all
    10-08-2022, 19:32 PM
  • Reply to Passing it on
    by SouthernDave
    DD!!? This isn’t mums net you know...
    10-08-2022, 19:07 PM
  • Passing it on
    by royw
    I'm about to make a will and would like to check my assumptions are correct. Beneficiaries are OH (we're married) and DD. Some BTLs are in my sole ownership, others are joint tenants with OH. There is a large CGT liability on all of them if I were to sell. DD is an adult but IMO a bit too young for...
    10-08-2022, 14:16 PM
  • Reply to Passing it on
    by jpkeates
    The IHT threshold would be £650k.
    The other £350k applies for the disposal of the main residence only.

    Just been dealing with exactly all this.
    10-08-2022, 17:44 PM
  • Reply to Passing it on
    by Neelix
    Not sure I agree with this.

    As a married person on the first death the estate can pass to the surviving partner meaning the IHT threshold on their death will be £1 million, then on their death ........
    10-08-2022, 17:32 PM
  • Reply to Passing it on
    by AndrewDod
    1 - yes you can and will pay duplicate tax (assuming both types are due)
    2- Yes
    3- Yes
    4-regard as effectively two items -- 50% with base value as per your probate value (need a formal assessment), other 50% with initial purchase value (whether by you or spouse. For the first half...
    10-08-2022, 16:38 PM
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