How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • Go back-and-forth until satisfied
    Rate the answer you receive.
Ask Aston Lawyer Your Own Question
Aston Lawyer
Aston Lawyer, Solicitor
Category: Law
Satisfied Customers: 11108
Experience:  Solicitor LLB (Hons) 23 years of experience in Conveyancing and Property Law
16368554
Type Your Law Question Here...
Aston Lawyer is online now

How is stamp duty calculated on a house transfer, no, No

This answer was rated:

Hi - how is stamp duty calculated on a house transfer
JA: Have you talked to a tax professional about this?
Customer: no
JA: Anything else you want the Accountant to know before I connect you?
Customer: No
Customer: replied 9 days ago.
(Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call.
Customer: replied 9 days ago.
Let me know if you need more information, or send me the service offer(s) so we can proceed.
Customer: replied 9 days ago.
It’s a privately arranged transfer - that involves swapping 2 houses plus 260k

Hi, I am happy to assist.

Could you confirm the "agreed price" for each house? Al

Customer: replied 9 days ago.
My house is worth 380k and I’m transferring plus paying with 260k cash - so 640 total

Hi, thanks for your reply.

For SDLT purposes, the amount payable is based on the consideration that the Buyer is paying, whether that be cash or (in your case) your existing property. So, as you are giving the Seller your property, valued at 380K plus 260K, you will have to pay SDLT on 640K. I hope this assists and if so, I would be grateful if you could rate my answer with 3-5 stars.

Kind Regards Al

Aston Lawyer and other Law Specialists are ready to help you