Can I Avoid Stamp Duty On Second Home?

[2gbmum]

My husband and I own our home. We've paid our mortgage off. We have some inheritance money with which we wish to buy a second home (to live in, not to let, at this stage).

Can I remove myself from the deeds/land registry of our house so it is solely owned by my husband and then buy the second home in my name alone so we each own a property.

Would this avoid paying the increased stamp duty on a second home?

Or is this a loophole that's all sewn up by the Govt?

[BRIGHT SPARK]

Apart from paying under £125K for residential I dont know of a way out.If you find a way could you please let us know.

[woofgang]

The answer is that nobody knows yet.
http://www.thisismoney.co.uk/money/experts/article-3393757/Can-transfer-property-husband-avoid-second-home-stamp-duty.html

[Dogsbody2]

The answer is more clear than that - no, you won't be able to do it. The Treasury have already thought of that little wheeze. The only cop-out would be for unmarried couples and those not in a civil partnership.

A consultation has been going on which finished on 1st February. The outline papers that make it clear that the rules will not allow you to do it are in section 2.4 of this document.

https://www.gov.uk/government/consultations/consultation-on-higher-rates-of-stamp-duty-land-tax-sdlt-on-purchases-of-additional-residential-properties/higher-rates-of-stamp-duty-land-tax-sdlt-on-purchases-of-additional-residential-properties

[Arrods]

So it looks like divorce is the answer!

[2gbmum]

Many thanks for your help and replies. I thought it wouldn't be that easy.
Hey ho.