Stamp duty tax help - Wales

4
Posted 21st Apr
Hi,

Scoured the internet with no answer to my question so was wondering if anyone has any knowledge on the below query.

Myself and my partner are starting to plan and save to buy a house together in the future. We both own houses which we don't want to sell. We will rent them out. When buying a new house we will be subject to a 3% stamp duty for up to 125k and 5% over 125k as we live in Wales. Does anyone know if this is 3%/5% each or joint? I.e. if we were buying a £125k house would I pay £3750 and he pay £3750. Or would I pay £1875 and he pay £1875?

Thank you in advance.
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as your only buy 1 house just jointly, your are still only buying 1 house, so only 1 stamp duty total of 3/5% for just the one house

£3750 you can split it how every you like between your self

and your % brakes should be different too, well according to the LTT chart, witch replaced stamp in 2018 in wales

as longer as its under 180k it should only be 3% over that would be 6.5%
Edited by: "no2813" 21st Apr
no28131 m ago

as your only buy 1 house just jointly, your are still only buying 1 house, …as your only buy 1 house just jointly, your are still only buying 1 house, so only 1 stamp duty total of 3/5% for just the one house £3750 you can split it how every you like between your self


Lovely. Thank you
If the property is in Wales, isn’t it subject to Land Transaction Tax and not Stamp Duty
Toptrumpet1 h, 15 m ago

If the property is in Wales, isn’t it subject to Land Transaction Tax and n …If the property is in Wales, isn’t it subject to Land Transaction Tax and not Stamp Duty


Think I used the wrong term. Thanks for the link. I'll look through shortly.
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