Stamp Duty Conundrum

Here is the scenario.....I am separated and own my own property in my own name ( as does separated wife ). I am in a new relationship and we are looking to move in together. My new partner also has her own property. We would like to pool our assets but are unsure of the stamp duty implications. If we add each other to each other's property deeds is there a stamp duty liability in that we are technically acquiring a share in a new property ( while simulataneously losing a share )

No stamp implications in such a scenario.

Just a question but if you are making or receiving maintenance payments and you returning these to Revenue as you will get relief if you are paying maintenance and there is tax due if you are receiving maintenance payments.

AFAIK, There is no stamp duty liability, but you are gifting each other quite a sizable amount of money, so there would very likely be a CAT liability for both of you.

This sounds like a case of getting proper advice before doing this.

No CAT between spouses........ Marry her if you haven't done so already!

Iceman732 said:

No CAT between spouses........ Marry her if you haven't done so already!

Click to expand...

once bitten - ....



I was aware of the CAT liability - which will be sizeable so it looks like a no brainer. Plan B is buying a new house together and selling / releasing equity out of the existing properties.

"No stamp implications in such a scenario."

Are you sure? I think there would be both Stamp Duty and CAT issues if they were to pool resources as first suggested by OP.

mf

Like mf1 i would disagree with the advice above. What you would be doing is an exchange of property and under Section 37 Stamp Duties Consolidation Act an exchange of property is liable to stamp duty.
There could also be a CAT liability and a CGT liability (but this is unlikely if you both live in your properties as PPR Relief would apply).
I would seek professional tax advice before proceeding.