Stamp Duty Query

ottobock

Registered User
Messages
26
I understand no stamp duty is payable on transfer of family home between spouses.
However does anyone know how much Stamp Duty is liable (how is it calculated) where the transferee is both the spouse and family members (sons and daughters) not in equal proportions?
 
Relatives get a 50% discount on the duty. So on a house it would be 3.5% on value over 125000.
 
do you mean that because the sons and daughters are included stamp duty has to be paid but if the house is transferred to the spouse only e.g in a separation agreement then no stamp duty is paid
 
No stamp will be paid by spouse. it will only be paid by children and only if the house is transferred while the owner is living. If the person is dead and the house is passing to wife and kids no stamp is payable.
 
Sorry my post was not very clear.

All transfers between spouses are exempt.

On other transfers stamp duty is paid on the value of the interest passing. So if you have a house worth 800,000 and you transfer 1/4 to your spouse and 1/2 to your child, the spouse pays no stamp duty, the child pays 3.5% on the value of their share less 125000. That is 3.5% of 275000.

For it to work this way the transferees would have to take as tenants in common in particular shares.