I may be in a position where I can buy a house from a relative at below market value. How is stamp duty calculated on a transaction like this?
A search of the net gives me varied answers from
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Has anyone been in a similar position? It makes a difference of about 10 grand! bloody hell!
A search of the net gives me varied answers from
the stamp duty will be levied at the full market value because relative is a connected person and therefore the deemed price of the transfer will be the market price, regardless of the actual value offered
the tax due is on the bona fide transaction value of the sale, so your SDLT will be on this value regardless of the "market value" whatever that is at the time
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