Q&As

A client has 1/6 of an interest in a property worth approximately £33,000.00. Will he have to pay the higher rates of SDLT on the purchase of another property and how should his share be valued for the purposes of the higher rates?

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Published on LexisPSL on 13/10/2016

The following Tax Q&A provides comprehensive and up to date legal information covering:

  • A client has 1/6 of an interest in a property worth approximately £33,000.00. Will he have to pay the higher rates of SDLT on the purchase of another property and how should his share be valued for the purposes of the higher rates?

This Q&A assumes the purchaser is an individual.

The higher rates apply to a 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

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