I am unable to sell my property in Cornwall at the moment – but I may be able to persuade the seller of the property I want to buy to do a straightforward exchange – no money exchanges – just a straight swap. What would be my tax liabilities (e.g. stamp duty land tax (SDLT), capital gains tax (CGT) etc.)?

Arthur Weller replies:
This exchange is subject to CGT. Assuming you and the other person are not connected, see HMRC’s Capital Gains manual at www.gov.uk/hmrc-internal-manuals/capitalgains-manual/cg13094, example 2, as amended by CG13096 - because in your case there is no cash adjustment. There will also be SDLT – see HMRC’s Stamp Duty Land Tax manual at www.gov.uk/hmrc-internal-manuals/stamp-duty-landtax-manual/sdltm04020 and www.gov.uk/hmrc-internalmanuals/stamp-duty-land-tax-manual/04020a.