Buying Multiple properties SDLT relief

Buying Multiple properties SDLT relief

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zedstar

Original Poster:

1,736 posts

177 months

Saturday 27th September 2014
quotequote all
Hi, got a query on the situation as follows, if someones buying 9 properties for the total sum of £1.2m then the rate of stamp duty would be 5%, leading to a stamp duty bill of £60,000. I mentioned this to a solicitor who said there was no way to reduce this as although there are multiple properties the fact that they are a linked transaction makes them liable to SDLT as one contract.

A little bit of HMRC browsing reveals SDLTM29900 which is relief for transfers involving multiple dwellings, according to the notes the 1.2M can be divided by 9 and then the relevant SDLT paid on that price for each property, which makes 1%. I did read the guidance and it made reference in one place to any transaction of more than 6 properties being commercial and therefore not applicable. It didn't mention it in the guidance though, only on one of the examples.

Has anyone got any experience or knowledge of this that might know what the answer is?

Just to be clear, I do have a solicitor (as mentioned above) but I don't want to start questioning him unless i'm sure there is something to discuss.

Any pointers or advice gratefully received and much appreciated.

zedstar

Original Poster:

1,736 posts

177 months

Saturday 27th September 2014
quotequote all
Thanks Andy, properties are all separate with separate titles and in some cases not even near each other.

zedstar

Original Poster:

1,736 posts

177 months

Sunday 28th September 2014
quotequote all
thanks for the responses guys - i'll mention it to the solicitor tomorrow