Hi,
Some time back I gave my brother a site to build his house on. We never bothered transferring the site to his name at the time. So now the house is nearly complete and I want to transfer the site to him. What rate of stamp duty will he end up paying. Will the amount of stamp duty be based on just the site alone or will it include the value of the house also. I am hoping that he only has to pay on the value of the site.
Thanks in advance.
Some time back I gave my brother a site to build his house on. We never bothered transferring the site to his name at the time. So now the house is nearly complete and I want to transfer the site to him. What rate of stamp duty will he end up paying. Will the amount of stamp duty be based on just the site alone or will it include the value of the house also. I am hoping that he only has to pay on the value of the site.
Thanks in advance.