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Why are those with Sharia mortgages Stamp Duty exempt?


Oskar

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With a crooked smile

Sounds well out of order utill you realise

There are specific provisions in tax law for a Sharia compliant structure, such that there is no Stamp Duty Land Tax (SDLT) on the transfer from the financial institution to you as the purchaser (it’s still payable on the share initially purchased).

Basically the bank buys the property on your behalf (and pays SDLT) it's much later the deeds get transfered to you. You don't pay sdlt on that second transfer.

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