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Aston Lawyer
Aston Lawyer, Solicitor
Category: Property Law
Satisfied Customers: 10737
Experience:  LLB(HONS) 23 years of experience in dealing with Conveyancing and Property Law
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I split with my partner in Feb 2010 - we left my name on

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i split with my partner in Feb 2010 - we left my name on both the mortgage and house deeds until such time he had paid off the mortgage - this is now done. We now need to transfer the property deeds from joint to his sole name - i have TR1 form prepared but before i send it to him to register it, I would like to understand if there is any CGT or Stamp Duty implications. When we originally bought the property he paid all the deposit and legal fees...when i left we just agreed he would pay me roughly half of the equity, less his up front costs - which worked out about £85k.

Hi, no CGT is payable (this is only payable if a party sells a property, which was not their main place of residence, for a profit). Stamp Duty is only payable if you purchase or acquire a property for more than £125,000. Therefore, no Stamp Duty is payable. I hope this clarifies the position to you. Kind Regards Al

Customer: replied 1 year ago.
ok, thanks - so we can simply send the TR1 form off to the land registry and we have no need to inform HMRC..?

Hi, you may still need to submit a SDLT return- it depends what you have put as the consideration in panel 8. What have you put? Kind Regards Al

Customer: replied 1 year ago.
I put the transfer is not for money - no money is changing hands now, he 5 years ago - do i need to declare that?
Customer: replied 1 year ago.
he gave me the money 5 years ago that should read

Hi, as you have put no consideration, you won't need to submit a SDLT return. You therefore just need to submit the Land Registry application. I hope this assists and answers your questions. If so, please would you be kind enough to rate my answer. Kind Regards Al

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Customer: replied 1 year ago.
that's great thank you