Stamp Duty on House Part Exchange
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austen
Apprentice
Joined: 05 Jan 2007
Posts: 10
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 Posted: 01/08/08 - 06:29 Post subject: |
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| I am considering transferring ownership of part of my large house to my permanently incapacitated brother. The purpose of the transaction is clearly caritative and I want the deed to be registered so as to provide it with a "certain date". This could be very important with repect to death duties, which of course he would be hard put to pay. Could you please tell me what you think? |
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marmaduke
Apprentice
Joined: 28 Sep 2005
Posts: 10
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| Posted: 02/07/08 - 01:19 Post subject: |
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| The answer to your question varies of course enrmously depending on where the transaction occurs. In the US, it will even vary between individual states. Fortunately, in the European Union this is not the case any longer. Except on a temporary or "transitional" basis in the case of the newer member states. The general rule is that the stamp duty is just that. It is a cost or part cost recovery exercice charged by the authorities and not a tax. So it would normally be applicable. But hey, check with your friendly tax adviser! |
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