Questions regarding stamp duty?
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maryellen
Apprentice
Joined: 14 Jan 2004
Posts: 18
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 Posted: 10/15/07 - 08:46 Post subject: |
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| Hi. I have split up with my husband of four years recently and I am still living in the property that we own together. In fact up till now, my ex has been still contributing to the mortgage. But I want to buy him out and continue living in the house. I have understood that I might have to pay stamp duty. Who can help me asnwer my questions regarding this? |
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torrance
Apprentice
Joined: 05 Aug 2005
Posts: 4
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| Posted: 11/22/07 - 00:06 Post subject: |
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| Sadly for you the answer to this particular question is, yes, you might well have to pay Stamp Duty. The HM Customs and Revenue will tax you on half the mortgage you will be taking on/have taken on, as well as on any amount you will pay to your partner in order to buy him out. For additional questions contact the HMCR. |
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