House swap (not sale)

[crankedup]

If I was to find a house 'on the market' that suited and that vendor agreed a deal by part exchange either way would I escape a % of stamp duty with the P/X element?

[CaptainSlow]

no

[fido]

Read up on SDLT.

[tomw2000]

The amount of SDLT is levied on the total consideration of the transaction - and the part-ex would form part of that consideration.

So no.

But I will update once I have checked with my 'advisor'

[crankedup]

Ah bo**ocks. Thanks guys.

[Bullett]

No.

We swapped houses the last time we moved. It was treated as two transactions we buy theirs they buy ours.

Unfortunatly...

[Murph7355]

crankedup said:

Ah bo**ocks. Thanks guys.

And now go and self flagellate for even considering tax evasion/avoidance and extending your wealth at the expense of others. Anyone would think you're a banker

[crankedup]

Murph7355 said:

crankedup said:

Ah bo**ocks. Thanks guys.

And now go and self flagellate for even considering tax evasion/avoidance and extending your wealth at the expense of others. Anyone would think you're a banker

Came to the conclusion that honesty, integrity, transparency do not sit comfortably within the confines of a Capitalistic Society, if you can't beat them, join them.

[Murph7355]

crankedup said:

Came to the conclusion that honesty, integrity, transparency do not sit comfortably within the confines of a Capitalistic Society, if you can't beat them, join them.

Is that what's behind your request for more details on dark pools

[zcacogp]

I'm sure I read an article somewhere fairly reputable (could have been the Telegraph money section) a few years ago about exactly this. The bit I remember was that stamp duty was only payable on one of the properties, although HMRC would almost certainly insist that it was paid on the more expensive of the two.

That was some time ago and my memory could well be wrong. And things may have changed since then. I am sure someone who knows more will be able to give chapter and verse on it.


Oli.

[fido]

zcacogp said:

...

That was before SDLT was introduced in 2003. Now you can swap, part-exchange, whatever .. it's still paid on the market value of EACH property transaction.

[zcacogp]

Ah, thanks, that'll explain it then.


Oli.

[Eric Mc]

And if any of the properties involved are not Main Residences, then Capital Gains Tax will apply based on Market Values.

Just because cash doesn't change hands does not mean that a financial transaction has not occurred.

[crankedup]

Murph7355 said:

crankedup said:

Came to the conclusion that honesty, integrity, transparency do not sit comfortably within the confines of a Capitalistic Society, if you can't beat them, join them.

Is that what's behind your request for more details on dark pools

Damn, rumbled!