There are numerous things to be taken into account when a marriage ends and the finances are being divided. The recent increase in stamp duty is now one of them.
This article serves as a useful reminder. If one party retains an interest in a property in which they do not live, or they receive a buy to let property as part of the settlement, they are likely to be caught by the new rules, and have to pay the higher stamp duty if they buy a new home in which to live.
This should be taken into account and factored in during the process of reaching an agreement on the division of finances.
Thousands of divorce settlements could be left open to appeal because the Government’s new stamp duty surcharge is leaving estranged partners unable to buy their own home following a split. The new rules mean that a husband or wife who is granted an interest in a property – such as a buy-to-let or second home – after a divorce will be liable for thousands of pounds in extra tax when they buy their own home.