Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
Page 3
    • Pixie5740
    • By Pixie5740 11th Jun 17, 11:39 AM
    • 11,349 Posts
    • 15,962 Thanks
    Pixie5740
    Hello I am a first time buyer, and I'm purchasing a shared owenership for 130.000 which is 50 percent. My solicitor has sent me a quote for the full value of stamp duty for 260,000. Am I right in saying that I won't have the pay the full 3,000 duty as I'm only buying half of the property?
    Originally posted by Blackadder01
    That depends on how you opt to pay the SDLT. You can use Market Value Election or Pay in Stages as you Staircase.

    https://www.gov.uk/guidance/sdlt-shared-ownership-property
    Annual income twenty pounds, annual expenditure nineteen pounds nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds nought and six, result misery.
    • Tobyagoode
    • By Tobyagoode 4th Oct 17, 3:44 AM
    • 1 Posts
    • 0 Thanks
    Tobyagoode
    I recently sold my principal residence in which my girl freind (partner) also resided.
    She had rented out her own house for the last 3 years.
    We jointly and equally purchased a new home and it was thought necessary to pay the extra 3% stamp duty because to date she has not sold her house. Ion more recent reading of tax news i now enquire as to whether we unnecessarily paid the 3% and are elligible to claim it back
    • G_M
    • By G_M 4th Oct 17, 7:50 AM
    • 42,753 Posts
    • 49,970 Thanks
    G_M
    She became joint owner of the new property. She already owns a property and now owns 2.

    Additional SDLT is due.

    Use the SDLT calculator to work out how much tax you’ll pay.
    • 00ec25
    • By 00ec25 4th Oct 17, 8:39 AM
    • 5,774 Posts
    • 5,222 Thanks
    00ec25
    I recently sold my principal residence in which my girl freind (partner) also resided.
    She had rented out her own house for the last 3 years.
    We jointly and equally purchased a new home and it was thought necessary to pay the extra 3% stamp duty because to date she has not sold her house. Ion more recent reading of tax news i now enquire as to whether we unnecessarily paid the 3% and are elligible to claim it back
    Originally posted by Tobyagoode
    don't know what you read, but the guidance is very clear when you read it. She is now the owner of 2 properties and was therefore correctly liable for the higher rate when "you" jointly purchased her additional property, given it is a tax on the purchase of ... an additional residential property
    https://www.gov.uk/guidance/stamp-duty-land-tax-buying-an-additional-residential-property

    the property she continues to own was not her main residence for at least the previous 3 years given it was let in that period. (I assume "partner" means you are not married, so are not classed as "one unit" for the purposes of main residence anyway?)

    therefore she fails the test of being able to sell her previous main residence, after purchasing a new main residence, BUT within 3 years of the sold property last being used by her as a main residence (read para 3.25)

    https://www.gov.uk/government/publications/stamp-duty-land-tax-higher-rates-for-purchases-of-additional-residential-properties
    • poppy10
    • By poppy10 11th Oct 17, 2:35 PM
    • 5,904 Posts
    • 7,141 Thanks
    poppy10
    The link in this article to the "old stamp duty calculator" doesn't work anymore
    Signature changed by MSE ForumTeam
    • Sacarsium
    • By Sacarsium 29th Nov 17, 6:10 PM
    • 2 Posts
    • 1 Thanks
    Sacarsium
    Hi, I am selling my house (£240k) and my mothers house (£260k)which is in my name and my sisters, the issue I have is we are buying a house for £340k and there may be an amount of time ( a month or two) before mother house is sold, can anyone advise how I stand regarding stamp duty liabilities in this situation?
    Originally posted by RichardDr

    Hopefully by know you've found this out but just in case you haven't.
    Stamp duty is all down to how much you're buying the property for so whether you sell 1 before the other shouldn't matter. The only caveat I would add is, if the plan is to buy the new house before both are sold then you may be subject to the higher stamp duty rate as it could count as a 2nd home.
    • DomLewis24
    • By DomLewis24 29th Nov 17, 7:30 PM
    • 1 Posts
    • 0 Thanks
    DomLewis24
    Stamp Duty for Partners
    Hi,

    I am in the processes of buying a house, I am a first time buyer but my wife is not. Do we still have to pay for Stamp Duty??
    Last edited by DomLewis24; 29-11-2017 at 7:31 PM. Reason: Spelling
    • Aylesbury Duck
    • By Aylesbury Duck 29th Nov 17, 7:42 PM
    • 1,342 Posts
    • 1,744 Thanks
    Aylesbury Duck
    Hi,

    I am in the processes of buying a house, I am a first time buyer but my wife is not. Do we still have to pay for Stamp Duty??
    Originally posted by DomLewis24
    You do if you are buying the house together, yes.
    • erki
    • By erki 2nd Dec 17, 12:26 PM
    • 2 Posts
    • 0 Thanks
    erki
    Hello,

    I have just bought a flat in London for £400k (my first property), with a completion date of 14th November. I have not yet paid the stamp duty as I wanted to see what the new budget announcement would say.

    Since the new rules are "effective immediately" does that mean I can pay the stamp duty according to the new rules? (and save £5k) Or am I stuck since my completion date is before 22nd November?

    If I'm bound by the completion date, is there a way to amend the completion date (with the permission/agreement of the seller of course)?

    Cheers
    • 00ec25
    • By 00ec25 2nd Dec 17, 12:36 PM
    • 5,774 Posts
    • 5,222 Thanks
    00ec25
    Hello,

    I have just bought a flat in London for £400k (my first property), with a completion date of 14th November. I have not yet paid the stamp duty as I wanted to see what the new budget announcement would say.

    Since the new rules are "effective immediately" does that mean I can pay the stamp duty according to the new rules? (and save £5k) Or am I stuck since my completion date is before 22nd November?

    If I'm bound by the completion date, is there a way to amend the completion date (with the permission/agreement of the seller of course)?

    Cheers
    Originally posted by erki
    do you understand the difference between exchange date and completion date?

    the liability for SDLT is on the completion date, not the exchange date
    https://www.gov.uk/hmrc-internal-manuals/stamp-duty-land-tax-manual/sdltm07600

    if you needed a mortgage to purchase the property then your conveyancer would require the cash to cover the SDLT to be in their hands before you completed. So when you say you have not yet paid it that suggests you have merely exchanged, rather than completed?

    if you do not need a mortgage and have genuinely completed on 14th Nov then you need to get a move on as you have 30 days in which to pay the SDLT. As per the link in my previous post, the rules are applicable from 22nd Nov. The word used is "from", that does not mean backdated to 14th Nov because that is what you'd prefer it to mean.

    if you have merely exchanged on the 14th, and thus not yet completed, then yes, the new rule means you will not pay SDLT if a 400k property is "in" London
    Last edited by 00ec25; 02-12-2017 at 12:44 PM.
    • erki
    • By erki 2nd Dec 17, 1:36 PM
    • 2 Posts
    • 0 Thanks
    erki
    Thanks.

    Yes, we exchanged contracts a few days before the 14th, and completed on the 14th. Yes I have a mortgage. I also proved that I have enough money to pay the old stamp duty amounts. I was aware I have 30 days to pay stamp duty, which is why I didn't pay immediately just in case there was a favourable rule change!

    So, i have completed, but not paid stamp duty yet. My main query is, in order for me to pay the new stamp duty, does the completion date have to be after 22nd Nov, or do I simply have to be paying the stamp duty after the 22nd?
    • 00ec25
    • By 00ec25 2nd Dec 17, 1:42 PM
    • 5,774 Posts
    • 5,222 Thanks
    00ec25
    So, i have completed, but not paid stamp duty yet. My main query is, in order for me to pay the new stamp duty, does the completion date have to be after 22nd Nov, or do I simply have to be paying the stamp duty after the 22nd?
    Originally posted by erki
    why are you repeating a question that has already been answered?

    you have to pay within 30 days of 14th Nov, ie you have until 13th Dec to pay up

    why is your solicitor not advising you on this issue or doing the SDLT return for you? The solicitor is required by the council of mortgage lenders to have the SDLT funds available in his clients account by the date of completion so he can then pay it on your behalf and thus discharge his liability to the mortgage company for ensuring it has been paid. It seems strange that you are asking such questions yourself when the info is easily found online:

    https://www.gov.uk/guidance/stamp-duty-land-tax-online-returns
    Last edited by 00ec25; 02-12-2017 at 1:54 PM.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

2,906Posts Today

8,676Users online

Martin's Twitter
  • Today's Twitter poll: Following yesterday's poll about being an organ donor when you die - would you consider being? https://t.co/tCTWjJBin8

  • RT @clq: @MartinSLewis You hit that one right out of the park. It might be the Tweet of the Century. I don't think anyone can do any Batter?

  • You've run-out of puns. That's a bit of a googly, maybe I can help break your duck, though it is s sticky wicket, t? https://t.co/nJT51NpXfO

  • Follow Martin