Stamp duty - rebate for those who have bought recently?

Hartley10

I'm due to complete on Friday so I've had a bit of a result on this but as many have said already - if a rebate was given how far back do you go ?

I'm not sure that this move will kick start the whole housing market though!

Juicy_Lucy_4

I also feel sick to the stomach about this, the goverment should put a time frame on this going back 6 weeks, why should we miss out just buy a few weeks its really unfair. i suggest everyone just speaks to there solicitors, i feel terrible for the people that missed it by a few days.

Im sure when they done this before they allowed for a repate so fingers crossed.

neverdespairgirl

Juicy_Lucy wrote: »

I also feel sick to the stomach about this, the goverment should put a time frame on this going back 6 weeks, why should we miss out just buy a few weeks its really unfair.

Why 6 weeks? What about people who bought 6 weeks and a day ago?

nicksta27

I don't think there is any chance whatsoever of a rebate - why should they?

Don't get me wrong I would LOVE it if they did, but no chance.

Innys

I don't feel there is any reason that rebates should be payable. As others have said, where do you draw the line, and why?

I note that most of the people who have suggested a rebate should be payable are those that would benefit. So, I suspect, they are not driven by some altrusitic sympathy for their brother man, rather pure selfishness.

There are lots of things the Government does which don't benefit me monetarily but I put up with them. That is what living in a society is all about - sometimes you win, sometimes you lose.

steve1981_2

Just recieved this reply from an enquiry, thought I would post it. Does not mention rebates but the why its worded would suggest no rebates.

hi and thank you for your enquiry.
The Chancellor of the Exchequer announced that from 3 September he will introduce a temporary exemption ("holiday") from SDLT for acquisitions of residential property worth not more than £175,000.
The exemption will be available where the effective date of the land transaction (normally the date of completion) is on or after 3rd September 2008 and before 3rd September 2009.
There are no circumstances in which this exemption will be available for any land transactions either before 3 September 2008 or after 3 September 2009.
Who can claim the exemption?
Anyone can claim this exemption. It applies, not to people, but to property types. Basically this measure exempts anyone purchasing a property worth not more than £175,000 from paying SDLT.
How will the exemption work?
The exemption applies to certain acquisitions made on or after [3] September 2008 but before [3 September 2009]
It covers acquisitions of major interests in land (other than grants of leases for less than 21 years or the assignment of leases with less than 21 years to run).
These must:
- consist entirely of residential property; and
- be for a chargeable consideration of not more than £175,000.
I hope this is helpful,
regards
Enquiry Unit
H M Treasury

We are due to complete Thursday 4th Sept. That was what my enquiry was, whether we needed to pay.
Looks like we have been very lucky, we tried very hard to complete earlier.

abaxas

steve1981 wrote: »

Just recieved this reply from an enquiry, thought I would post it. Does not mention rebates but the why its worded would suggest no rebates.

hi and thank you for your enquiry.
The Chancellor of the Exchequer announced that from 3 September he will introduce a temporary exemption ("holiday") from SDLT for acquisitions of residential property worth not more than £175,000.
The exemption will be available where the effective date of the land transaction (normally the date of completion) is on or after 3rd September 2008 and before 3rd September 2009.
There are no circumstances in which this exemption will be available for any land transactions either before 3 September 2008 or after 3 September 2009.
Who can claim the exemption?
Anyone can claim this exemption. It applies, not to people, but to property types. Basically this measure exempts anyone purchasing a property worth not more than £175,000 from paying SDLT.
How will the exemption work?
The exemption applies to certain acquisitions made on or after [3] September 2008 but before [3 September 2009]
It covers acquisitions of major interests in land (other than grants of leases for less than 21 years or the assignment of leases with less than 21 years to run).
These must:
- consist entirely of residential property; and
- be for a chargeable consideration of not more than £175,000.
I hope this is helpful,
regards
Enquiry Unit
H M Treasury

We are due to complete Thursday 4th Sept. That was what my enquiry was, whether we needed to pay.
Looks like we have been very lucky, we tried very hard to complete earlier.

I'll rephrase into english.

"Thank you, your sacrifice for the good of the UK is commendable however we are currently laughing at you. SUCKER!"

Sad but true :<

Austin_Allegro

Juicy_Lucy wrote: »

I also feel sick to the stomach about this, the goverment should put a time frame on this going back 6 weeks, why should we miss out just buy a few weeks its really unfair. i suggest everyone just speaks to there solicitors, i feel terrible for the people that missed it by a few days.

Im sure when they done this before they allowed for a repate so fingers crossed.

All those wanting a rebate - if the government had put the stamp duty UP, would you be clamouring to pay them the money you saved? After all, why should the Treasury miss out by just a few weeks?

latecomer

We paid 5 figures worth of stamp duty earlier this year. I want a rebate too. In fact I want a refund from the sellers because house prices have dropped too.....

Just one of the those things. We still love our house (despite it being a "project" and hence somewhat dilapidated) and life goes on.

briona

stevederby wrote: »

We completed on Friday. I feel sick after seeing this today. After Darling ditherings whether to do it have meant that our completion has come just before this. I feel completely let down by a government who claims to be trying to help 1st time buyers.

An absolute disgrace if there is no rebate!!!

:mad: :mad: :mad: :mad:

Oh come on! This didn't exactly come out of the blue!

When the possible scrapping of stamp duty was first mentioned a couple of weeks ago, hundreds of would-be buyers decided to hold fire in buying the properties that they had put offers in on, which needless to say enraged a number of estate agents. YOU could have done the same thing. In the current market it wasn't as if your dream house would be snapped up by another buyer.

At best you would have saved yourself £1,750, which in the grand scheme of things, is not that much. But if you're happy with your purchase, what's the problem? Or the does the house suddenly become 10x more attractive if it's £1,750 cheaper? :rolleyes:

As others have said, you have to draw the line somewhere, and someone's always going to fall outside it. That's just the way the cookie crumbles...