A tax tribunal has ruled that buyers Paul and Nikki Bewley do not need to pay the 3% second home surcharge on the purchase of a derelict property that took place in 2017. Since April 2016 if a buyer already owns a property and purchases another, the stamp duty rates on the second purchase are […]
Buying out co-inheritees: stamp duty and capital gains tax
It is not uncommon for a parent to leave their home in their Will to a number of their children – and sometimes one child will want to buy out the others rather than putting the property on the market. In such circumstances, stamp duty is likely to be payable, calculated on the value of […]