george price

Thanks for your help, this is as I understood, but someone said, obviously wrongly, that if she rented out her home of several years and bought a new property she would not have to pay the SDLT.

My daughter owns a flat outright (it was her principle residency for 7 years) and back in March this year purchased a house with her partner under £500,000 receiving the benefit of of Stamp Duty free relief. However, she did pay the higher standard duty tax of £13,500 due to it being a second property. She is keeping the flat and after refurbishment, she will be renting out the flat later this month. Is she entitled to claim some or all of the SD tax back due the the house (and being higher value property) being her principle residence. Thank you

It has been suggested that as we gifted my daughter the property, she may be able to gift it back to us, there of course wiould be no CGT, enabling her to avoid the penal stamp duty levy. Presumably thereafter, at a future date, we could possibly gift it back to her.

Thank you both for your help. You are correct that she is looking to purchase in the region of low to mid £400,000 whilst her flat is probably worth £230-£250 k. I will investigate your idea with an accountant.

8 years ago I gifted a small one bedroomed appartment to my daughter, partly to eliminate this asset from IHT and to help her gain her independence. She is now in a position to purchase a house with her fiance and start a familly, but finds that she is being priced out of the market by virtue of the fact that she currently lives in her flat and is being hit by a large stamp duty penalty of £18,000 above the normal stamp duty of £6,500. She does not want to sell the flat, as it offers a modicum of financial security in her future years as her (as well as most peoples' nowadays) and her partner's estimated pension is estimated at hardly adequate. When she starts a familly, finances will of course get tighter. Is there a method to avoid this crippling tax?