Stamp Duty Confusion - Help

[mattrosersv]

I can't work out an answer to stamp duty calcs for the following situation - any guidance appreciated - status as follows.

House 600 ish

Price includes paddocks which are a separate lot - can this be split out as the paddocks are agricultural?

Girlfriend is Irish, but resident here for 9 years
She has a house in Ireland which she rents out and has not bought or sold anywhere previously as a main residence

We are buying the house together

I am on the deeds of a house with my ex, but should be off within next fortnight as a finance settlement

Cheers

Matt

[Sarnie]

Whats the question?

You should be able to separate the house from the paddocks, but they will need to be separate purchases/transactions.........which will mean that your mortgage (assuming you need one!) will only be based on the house, which will affect the value/lending.

You will incur the additional stamp as your partner owns property elsewhere, even being in Ireland.

"Purchasing a new main residence
in the UK, but already owns a
property abroad which they intend
to keep.?

As your client isn’t selling their existing property before purchasing the next, the higher
rate applies. The higher rate is applicable if your client already owns a property anywhere
in the world."

[Bullett]

Sarnie said:

if your client already owns a property anywhere in the world."

How would they know?

[Sheepshanks]

mattrosersv said:

We are buying the house together

Can you buy it in your name?

Wonder what happens if you do that and then add her later?

[Sarnie]

Bullett said:

How would they know?

No idea, I'm not HMRC

[mattrosersv]

Had occurred to us to purchase in my name.

No mortgage required so no probs with separate transactions.

Thanks for the responses!

Any idea where to go for paid for advice on this stuff? I guess solicitor?

[Dan_M5]

Baller 600k in cash! i dislike having to pay 20k stamp duty on the property I'm buying!

[mattrosersv]

It is not possible to break it up into lots as the whole transaction would be considered as a single transaction for Stamp Duty calculation

So a little more research and there is a classification of Mixed Use payable at 4% which is not subject to the second home 3% charge.


From the little information I can find it would appear that this property and paddocks (classified as equestrian and including an arena) could fall into the Mixed Use scenario.

Anyone have any experience of this?

Thanks,

Matt

[Sarnie]

mattrosersv said:

It is not possible to break it up into lots as the whole transaction would be considered as a single transaction for Stamp Duty calculation

So a little more research and there is a classification of Mixed Use payable at 4% which is not subject to the second home 3% charge.


From the little information I can find it would appear that this property and paddocks (classified as equestrian and including an arena) could fall into the Mixed Use scenario.

Anyone have any experience of this?

Thanks,

Matt

Matt,

You would be best seeing a solicitor about this.....a lot of this is open to interpretation.......you want the advice from the conveyancer you will use, who will then stand by their advice if it's ever questioned........