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Stamp duty query


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Hi,

I have my residential property which I plan to move to a HMO mortgage so I can buy a property with my partner.

she would be a first time buyer and the property is £175,000. Would we be liable for stamp duty as it would be my second property but would be her first?

 

thanks,

Rich

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Because you are purchasing the property jointly you would pay Stamp Duty at the higher rate for the entire transaction, not just your share of it. This is because one of the joint purchasers, you, already owns a property and you are not replacing your main residence (ie not selling your home).

 

 

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David M Slater ACMA 
Accufy Accounting
01946 552801
  david@accufy.uk
  www.accufy.uk
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