stamp duty

[weas]

I am selling my house and as it turns out i want to buy my buyers house , i am told if you swap houses only one of you pay stamp duty !! help is this true
thank you

[auzzie]

I don't think so cos everybody would be doing it. Something tells me the government will not let you get away with that. I did read of someone who was swopping houses with the inlaws, one downsizing and one upsizing. One was at 1% and the other 3%. The two couples hoped that they could "gift" them to each other. Turns out that they had to pay 4% on the combined totals of the two properties.
I am not an expert in this field but if it was true we would have all heard of it by now. And if it is true, i'm going to ask my mother in law to swop!! Good luck

[Loosehead]

Not true, it is seen as a device to avoid stamp duty and hence will attract duty as if both houses where sold separately at the market price.

[Hammer]

You could mutually agree to knock a bit off the asking prices though. Reduce both prices by 20% or so and you should save a few quid.