land stamp duty
Author
Discussion

s2t

Original Poster:

424 posts

191 months

Saturday 16th February 2013
quotequote all
We are about to buy a plot of land from a farmer to build a house on. Adjacent to the plot is a field which we have agreed to buy between 5-10 acres for grazing for the horses and sheep.
From a stamp duty perspective how is this looked at..as one transaction classified as residential or mixed use with part non residential/agricultural. Not looking to hoodwink HMRC but as the transaction is on the cusp of a banding just interested from a budgeting perspective




Edited by s2t on Saturday 16th February 15:00

anonymous-user

84 months

Saturday 16th February 2013
quotequote all
I think you could reasonably structure this as 2 separate transactions, 1 for the residential plot and then 1 for the grazing land and keep two titles

s2t

Original Poster:

424 posts

191 months

Saturday 16th February 2013
quotequote all
Answering my own question from the HMRC site
SDLT rates for non-residential or mixed use properties

Non-residential property includes:

commercial property such as shops or offices
agricultural land
forests
any other land or property which is not used as a dwelling
six or more residential properties bought in a single transaction

A mixed use property is one that incorporates both residential and non-residential elements.

The table below applies for freehold and leasehold non-residential and mixed use purchases and transfers


So we are going to fall into the mixed use category I would say and am consequently happy with my potential stamp duty payment!