[Tax]Can we reclaim higher rate stamp duty?
My partner and I just bought our first house for 250k in July 2017, in doing so we paid ~9k (basic plus higher rate) stamp duty as my partner is on the deeds for her parents house (along with her parents) and has been since the late 90s when was still a child.
This in and of its self sounds reasonable so far, however she derives no benefit from owning part of her parents house, and when we explained the situation to her parents they were unwilling to take her name off the property (reasons are complicated and not financial). So that isn’t an option.
As we saw it at the time we had to pay the higher rate of duty however I’ve now been reading on “tax on benefit not ownership” principal does this apply here? If so or otherwise do we have any options?
Posted Oct 28, 2017, 7:42 AM UTC