Q&As

Will a married couple have to pay the higher rate of stamp duty land tax (SDLT) on the joint purchase of a main residence where: (1) they are selling their current main residence, which is owned solely by the husband; (2) the husband owns some buy-to-let properties in his sole name and one jointly with his wife; and (3) the wife also owns a buy-to-let property in her sole name which was her main residence up to two years ago?

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Published by a LexisNexis Tax expert
Published on: 25 August 2017

The higher rates of Stamp Duty Land Tax (SDLT) will apply to the purchase of a major interest in a single dwelling by an individual, if at the end of the day of purchase, Conditions A to D are met:

  1. •

    Condition A—the chargeable consideration is £40,000 or more

  2. •

    Condition B—the dwelling is not subject to a lease which has more than 21 years to run on the date of purchase

  3. •

    Condition C—the purchaser owns an interest in another dwelling which has a Market Value of £40,000 or more and is not subject to a lease which has more than 21

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Jurisdiction(s):
United Kingdom
Key definition:
Stamp duty definition
What does Stamp duty mean?

A transfer tax payable on documents and instruments, rather than in respect of a transaction. It is most commonly encountered on the transfer of UK certificated shares, where the stock transfer form is the instrument that is stamped.

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