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SDLT

My research seems to suggest the SDLT is chargeable on the amount payable for the property in money or money's worth, not on anything to do with market value.

Therefore, upon an outright gift of an unmortgaged property I believe that this means no SDLT to pay. But is this correct?
G

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By ecvej
03rd Jun 2009 08:03

Partnerships
There can also be SDLT on some gifts to partnerships (FA 2003 sch 15) - have a look at FA2003 in general to review the specific circumstances of your gift.

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02nd Jun 2009 14:15

No SD on gifts
G,

You are correct. A gift with no valuable reciprocity is not a chargeable event for stamp duty (including SDLT).

Tony Court

P.S except of course for gifts to companies as Peter indicated.

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02nd Jun 2009 14:14

Correct
Except, and there always is at least one exception, when the property is transferred to a connected company, when SDLT is payable on the basis of market value.

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