Person A, non-uk resident, owns a commercial shop worth £240,000.
Person B, uk resident, owns a residential house worth £250,000.
A and B wish to exchange premises with each other. Both are unconnected parties. No cash consideration will be given, it will be a straight forward swap.
From what I understand, if they swap premises with each other, A will not pay any CGT as non-uk resident and nor will B pay any CGT as he purchased property some months ago and capital value has not increased.
Regarding SDLT, A will not pay any SDLT as currently there is a SDLT holiday for residential property.
My question is will B have to pay SDLT on the shop as it is a commercial property even though no consideration is being transferred?
Is it a possibility that they both just gift the respective property to each other and therefore no SDLT on the gifts? or are they rules that prevent this?
Any help would be much appreciated.