KT Landlord

Registered with Property118.com
Monday 9th May 2016

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Total Number of Property118 Comments: 1

KT Landlord

0:15 AM, 23rd May 2016, About 6 years ago

Second property Stamp duty Just because we live together?

Reply to the comment left by "David Lovegrove" at "20/05/2016 - 14:36":

As you would not be joint purchasers it looks like your partner should be exempt. I haven't seen any mention of cohabiting as a definition of a 'single unit' in the view of HMRC.

I guess the conveyancer has to cover their back though, especially in these early days. Is there a declaration form that has to be signed confirming no other properties are owned? I'm curious how the new system is policed.

It might be worth giving them an anonymous call and reporting back what you find out.

From the summary of consultation responses:

1.8 Joint purchasers are treated in the same way as married couples. In the consultation the
government proposed that if, at the end of the day of a transaction, any of the joint purchasers
has two or more properties and is not replacing a main residence, the higher rates will apply to
the entire consideration for the transaction. This provides consistency with the treatment of
married couples. This means that, where two or more people purchase a property jointly and the
property was an additional property for some of the purchasers but not for others, the higher
rates would apply to the transaction.

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/508156/SDLT_summary_of_responses_final_14032016.pdf... Read More