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  • FIRST POST
    • rover25
    • By rover25 18th Apr 17, 10:04 PM
    • 383Posts
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    rover25
    Stamp duty on 2nd house? Confused
    • #1
    • 18th Apr 17, 10:04 PM
    Stamp duty on 2nd house? Confused 18th Apr 17 at 10:04 PM
    Can anyone tell me how much I would have to pay in stamp duty on 2nd house costing £168k?
    Calculator telling me £5900 but sis in law who bought recently says that is wrong.
    She says they thought they would have to pay £4,500 on approx £140k property but that it was much much less.
    Thanks everyone
Page 1
    • Pixie5740
    • By Pixie5740 18th Apr 17, 10:07 PM
    • 9,904 Posts
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    Pixie5740
    • #2
    • 18th Apr 17, 10:07 PM
    • #2
    • 18th Apr 17, 10:07 PM
    You would pay £5,900 if you are purchasing and additional residential property.

    Was you SIL purchasing an additional residential property or was she replacing her main residence?
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    • amateur house
    • By amateur house 18th Apr 17, 10:10 PM
    • 158 Posts
    • 143 Thanks
    amateur house
    • #3
    • 18th Apr 17, 10:10 PM
    • #3
    • 18th Apr 17, 10:10 PM
    I think £5900 seems right,
    3% on the first £125k is £3750
    5% on the remaining £43k is £2150

    Someone else may know better
    • rover25
    • By rover25 18th Apr 17, 10:17 PM
    • 383 Posts
    • 34 Thanks
    rover25
    • #4
    • 18th Apr 17, 10:17 PM
    • #4
    • 18th Apr 17, 10:17 PM
    Pixie5740 , this is their 2nd property. They have rented out their first house and are now living in their new house.
    She said they thought it would be £4500 but it was only a small amount. Will text her to find out exactly.
    • rover25
    • By rover25 18th Apr 17, 10:47 PM
    • 383 Posts
    • 34 Thanks
    rover25
    • #5
    • 18th Apr 17, 10:47 PM
    • #5
    • 18th Apr 17, 10:47 PM
    They have just paid the normal 2% on £138k on their 2nd property. Don't know how they managed it!
    • amateur house
    • By amateur house 18th Apr 17, 10:59 PM
    • 158 Posts
    • 143 Thanks
    amateur house
    • #6
    • 18th Apr 17, 10:59 PM
    • #6
    • 18th Apr 17, 10:59 PM
    Did they complete the purchase before 1st April 2016 before the new rules took effect?
    • rover25
    • By rover25 18th Apr 17, 11:05 PM
    • 383 Posts
    • 34 Thanks
    rover25
    • #7
    • 18th Apr 17, 11:05 PM
    • #7
    • 18th Apr 17, 11:05 PM
    No, they bought in October 2016
    • amateur house
    • By amateur house 18th Apr 17, 11:50 PM
    • 158 Posts
    • 143 Thanks
    amateur house
    • #8
    • 18th Apr 17, 11:50 PM
    • #8
    • 18th Apr 17, 11:50 PM
    Strange. I was in the process of buying a house recently. It fell through in the end, but the solicitor told me the stamp duty would be £2700 (on a £92k purchase price) as I hadn't sold my current house.
    • eggha
    • By eggha 19th Apr 17, 1:42 AM
    • 259 Posts
    • 238 Thanks
    eggha
    • #9
    • 19th Apr 17, 1:42 AM
    • #9
    • 19th Apr 17, 1:42 AM
    No, they bought in October 2016
    Originally posted by rover25
    then they must have "misled" the solicitor filing the SDLT return for them because there is no possible way they are not liable for the higher rate given they have not sold the previous place and are buying an additional property. Perhaps they misled the solitior into believeing this was not a second property but was a main residence first time purchase?

    On a purchase price of 138k for an additional property they should have paid £4,400

    do update us if/when HMRC's computers spot the error and charge them penalties and interest for underpaying
    Last edited by eggha; 19-04-2017 at 1:52 AM.
    • delicious11
    • By delicious11 19th Apr 17, 8:31 AM
    • 34 Posts
    • 3 Thanks
    delicious11
    I know I should start another thread but my question relates to stamp duties on second properties.


    I already have a property in my name which I don't want to sell. My partner does not. If we buy a property together would we still have to pay the new stamp duty charge? I was wondering how that would work out as he is first time buyer and I am not.
    • eggha
    • By eggha 19th Apr 17, 10:13 AM
    • 259 Posts
    • 238 Thanks
    eggha
    I know I should search start another threads but I can't be bothered, so instead I'll simply post a question relates to stamp duties on that has been asked and answered umpteen times already regarding the most common scenario applicable to second properties.


    I already have a property in my name which I don't want to sell. My partner does not. If we buy a property together would we still have to pay the new stamp duty charge? I was wondering how that would work out as he is first time buyer and I am not.
    Originally posted by delicious11
    read the guide
    question 20 , page 29

    https://www.gov.uk/government/publications/stamp-duty-land-tax-higher-rates-for-purchases-of-additional-residential-properties
    Last edited by eggha; 19-04-2017 at 10:31 AM.
    • delicious11
    • By delicious11 19th Apr 17, 10:29 AM
    • 34 Posts
    • 3 Thanks
    delicious11
    Originally Posted by delicious11
    I know I should search start another threads but I can't be bothered, so instead I'll simply post a question relates to stamp duties on that has been asked and answered umpteen times already regarding the most common scenario applicable to second properties.


    I already have a property in my name which I don't want to sell. My partner does not. If we buy a property together would we still have to pay the new stamp duty charge? I was wondering how that would work out as he is first time buyer and I am not.











    Wait ..why are you so rude? I asked an innocent question in a relative thread and expected a concise answer. However, you post a link that does not tell me exactly what I need to know and try to edit my post in the process? I could go on about your insolence but I will say that if you can't provide the answer that I want then you are not forced to respond.


    Not everyone has time to trawl through old threads and sometimes searches do not bring the correct information anyway. Further more not everyone spends 24 hours on this board to know that it has been discussed up teem times so do not assume they know!
    • lovinituk
    • By lovinituk 19th Apr 17, 10:32 AM
    • 4,878 Posts
    • 5,370 Thanks
    lovinituk
    I know I should start another thread but my question relates to stamp duties on second properties.


    I already have a property in my name which I don't want to sell. My partner does not. If we buy a property together would we still have to pay the new stamp duty charge?
    Originally posted by delicious11
    Yes.......
    The following is my forum signature and not necessarily a response to your post:
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    • eggha
    • By eggha 19th Apr 17, 10:34 AM
    • 259 Posts
    • 238 Thanks
    eggha
    you post a link that does not tell me exactly what I need to know
    Originally posted by delicious11
    yes it does: question 20 page 29
    • glentoran99
    • By glentoran99 19th Apr 17, 10:47 AM
    • 4,087 Posts
    • 2,905 Thanks
    glentoran99
    Can anyone tell me how much I would have to pay in stamp duty on 2nd house costing £168k?
    Calculator telling me £5900 but sis in law who bought recently says that is wrong.
    She says they thought they would have to pay £4,500 on approx £140k property but that it was much much less.
    Thanks everyone
    Originally posted by rover25

    I take it you didn't get anywhere with your negative equity with ulster bank then? Just being nosy as I messaged you at the time
    • saajan_12
    • By saajan_12 19th Apr 17, 11:21 AM
    • 303 Posts
    • 195 Thanks
    saajan_12
    Wait ..why are you so rude? - Like the rudeness in expecting spoonfed answers to standard questions easily searchable on this forum and the actual stamp duty guidance, and getting grumpy when a poster pulls you up on it? I asked an innocent question in a relative thread and expected a concise answer. - YOU are expected to do some basic research atleast if you would like help. Why do you think anyone here has to live up to your expectations? However, you post a link that does not tell me exactly what I need to know - yes there is an exact example of only one of the joint owners being a FTB and try to edit my post in the process? I could go on about your insolence but I will say that if you can't provide the answer that I want then you are not forced to respond. - but they may respond.

    Not everyone has time to trawl through old threads - Well then why expect someone else to take their time? You are the one that would like to know, so if anyone, you should be taking the time. and sometimes searches do not bring the correct information anyway. - But in this case it would have if you'd bothered to search Further more not everyone spends 24 hours on this board to know that it has been discussed up teem times so do not assume they know!- You don't have to spend 24hours, just type a couple of words in the search box and hit enter, to see the umpteen threads.
    Originally posted by delicious11
    Since you would like the help, it would be nice if you were respectful of other people's time and tried to research yourself before shouting down other posters.
    • delicious11
    • By delicious11 19th Apr 17, 6:46 PM
    • 34 Posts
    • 3 Thanks
    delicious11
    Since you would like the help, it would be nice if you were respectful of other people's time and tried to research yourself before shouting down other posters.
    Originally posted by saajan_12
    As I said, I expected a concise answer and that has kindly been provided by lovinituk in this thread. The rudeness and lectures were not necessary. Since you value your time, the time you spent editing my post instead of simply replying concisely could have been put to better use don't you think?
    • marliepanda
    • By marliepanda 19th Apr 17, 6:59 PM
    • 4,327 Posts
    • 8,516 Thanks
    marliepanda
    As I said, I expected a concise answer and that has kindly been provided by lovinituk in this thread. The rudeness and lectures were not necessary. Since you value your time, the time you spent editing my post instead of simply replying concisely could have been put to better use don't you think?
    Originally posted by delicious11
    What is more concise than pointing you to the place you can find out the info?

    It wasnt rude at all. Considering youre basically asking 'I have one property, and Im going to buy a SECOND property with my girlfriend, does SECOND property stamp duty apply??????'
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    • delicious11
    • By delicious11 19th Apr 17, 7:50 PM
    • 34 Posts
    • 3 Thanks
    delicious11
    What is more concise than pointing you to the place you can find out the info?

    It wasnt rude at all. Considering youre basically asking 'I have one property, and Im going to buy a SECOND property with my girlfriend, does SECOND property stamp duty apply??????'
    Originally posted by marliepanda
    A simple 'yes' or 'no' answer would have sufficed. More concise than being given a link to a large 50 page document and my initial post being rudely edited.

    What is the purpose of a public message board if people are not allowed to ask questions on a without being berated for not doing their research first?
    • eggha
    • By eggha 19th Apr 17, 11:11 PM
    • 259 Posts
    • 238 Thanks
    eggha
    What is the purpose of a public message board if people are not allowed to ask questions on a without being berated for not doing their research first?
    Originally posted by delicious11
    as your teachers tried to instil in you at school, being spoonfed a yes/no answer without understanding why it is yes/no is valueless. Being directed to the source info so you can look up facts for yourself then, if required, post on issues of your comprehension of facts is part of the value of a public forum

    your desire for a "concise" answer just comes across as you being too lazy to even try to help yourself
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