Question:
We are looking into swapping homes in Birmingham; our home is valued at £450,000 and theirs at £650,000, so we are going to give then £200,000. Please can you advise if we have to pay stamp duty land tax (SDLT) on the whole amount of both properties or just the sum of £200,000?
Arthur Weller replies:
See HMRC’s Stamp Duty Land Tax manual (www.gov.uk/hmrc-internal-manuals/stamp-duty-land-tax-manual/sdltm04020a) at Example 2 - you pay SDLT on the whole amount of £650,000. It is explained there that this amount is both the value of the interest you are acquiring and the amount of consideration you are giving to acquire it.
