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Posted Wed, 04 Jan 2023 17:05:25 GMT by Doz
My wife and I own our current marital home (with mortgage) We have separated. To settle finances with my wife, I'm intending on remortgaging the family home and as part of that I am also transferring the property into my sole name. I am concerned about any Stamp Duty liability as we are only separated (not legally), but do intend to divorce later this year. On the HMRC website it states here: https://www.gov.uk/hmrc-internal-manuals/stamp-duty-land-tax-manual/sdltm00550 "Certain transactions made in connection with the ending of a marriage, or a civil partnership formed under the Civil Partnership Act 2004, are exempt from Stamp Duty Land Tax (SDLT)." "These transactions are those made between the parties to the marriage or civil partnership as a result of certain types of court order an agreement between the spouses/partners in contemplation or in connection to the dissolution or annulment of their marriage or civil partnership their judicial separation or a separation order The exemption is not available if the transaction involves someone other than the spouses or civil partners." But HMRC fail to state what the definition of "an agreement" is. Is it sufficient for my wife and I to draw up a DIY Separation Agreement ourselves and sign it? Or must we get it done by solicitors prior to the remortgage being processed? (at a cost of around £2k) I have 2 months to complete the remortgage and desperate for some clarity here. Thanks
Posted Thu, 05 Jan 2023 08:53:48 GMT by HMRC Admin 19
Hi,

Please contact the Stamp Duty Land Tax team for advice.

Stamp Duty Land Tax

Thank you.

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