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How would you treat Stamp Duty for % house ownership

2 replies

GasPanic1 · 12/06/2024 11:53

I'm not sure if legal is the right place for this or property but here goes.

I'm buying a property with my partner. I already own my property. If you take the purchase price and our contributions both now and going forward I would own roughly 20%. However, as we have higher rate stamp duty to pay that significantly reduces my share as the overall cost goes up.

When deciding on shares for ownership should the SDLT been a consideration on top of the purchase price. I have, naturally, paid SDLT on the current property I own and will be keeping and gaining a very small income from.

Ultimately, we will both benefit long term from this property and the one we are to buy too.

OP posts:
NigelHarmansNewWife · 13/06/2024 13:00

Base the split on the total cost of purchase price + stamp duty

Who is actually paying what though?

rwalker · 13/06/2024 13:20

Is the stamp duty increased because you already owning a home I presume it will be classed as a second property
you should pay the extra that’s incurred because of your circumstances

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