How to Avoid SDLT on Residential Properties

Want to save money on SDLT when buying residential properties? Learn how to use option agreements to legally pay 0% SDLT with this guide.
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[@ozksean682]

I sold my main residence and bought another place to replace it. As I was “moving home”, I didn’t pay the additional stamp duty. However, I also bought a secondary property with the aim of renting it out at the same time. I completed both properties on the very same day. However, I am not living in the property I paid lower stamp duty for. My main residence happened to be the one I paid higher stamp duty for. What’s going to happen now? I dont want to face issues if I change my main residence again from a capital gains tax and stamp duty (moving home point) of view. Any advice is appreciated, thanks.

[@UK-Property-Tax-Accountants]

You need to speak with your solicitor who did the conveyance work to get their opinion really

[@joncole59]

So what SDLT is due when someone assigns a PLO on to a third party? For example if I take a property on a PLO, use it for SA and then sell the PLO to another investor, will there be 2 lots of SDLT to be paid despite there only being one purchase?

[@UK-Property-Tax-Accountants]

Sandy Chu and Tax will be applied when you start to receive benefits from the property. If you later selfie purchase lease options to someone else then started to land tax either needs to be recovered or not paid on the second instance. A letter will need to be drawn to Hmrc to clarify the position on a case-by-case basis

[@Bonk-A-Lonk]

I have 2 properties of my own and looking to move into a 3rd with my missus, is there anyway to dodge the 2nd property tax. For exapmle. Buy it in her name and add on in the future or create a company and buy the properites through the company ? Any jnfo would be useful thanks. The more i educate myself the more i feel like the government is just pulling our pants down man 😢!

[@UK-Property-Tax-Accountants]

I think you might be right about the government 🙄😬😫

[@UK-Property-Tax-Accountants]

It might be better for you to speak to your accountant and get some quality time with them to talk about the transfer of properties to your wife or to a limited company for the short and long-term

[@snakesms]

To summarise the vodeo: how not to pay SDLC? NO how. You can postponed payment to the completion date, but only when you don't you the property in any way

[@UK-Property-Tax-Accountants]

But options do not need to be exercised unless it makes sense to buy it. Additionally gifts of property avoids SDLT altogether

[@Bob_too]

So the answer is Gifting ?

[@UK-Property-Tax-Accountants]

That is certainly an option 👍

[@Kilex6522]

Rates in Wales is slightly higher.

[@UK-Property-Tax-Accountants]

Yes fair point. However, they now have property purchase tax called Land Transaction Tax that replaced SDLT. Wales no longer uses SDLT

[@Kilex6522]

@@UK-Property-Tax-Accountants Correct