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Stamp Duty Question....
sonik
Posts: 19 Forumite
Good evening :T
We've just bought a house for £127,500 and are completing this Friday (5th Sept) Will we have to pay stamp duty now that this new thing has come in?
Ta
We've just bought a house for £127,500 and are completing this Friday (5th Sept) Will we have to pay stamp duty now that this new thing has come in?
Ta
0
Comments
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Not if you complete on friday (ensure all the paperwork is dated friday)
Doesn't matter though as with prices dropping at 2% a month by the end of september you will have lost more through the crash in a month than you've saved by not paying Stamp Duty.Bankruptcy isn't the worst that can happen to you. The worst that can happen is your forced to live the rest of your life in abject poverty trying to repay the debts.0 -
No. You just saved yourselves £1,275.
How on earth did you get to buy at a price where you were paying £1,275 taxes on just £2,501 worth of house? Couldn't you have negotiated down to £124,999 and paid the vendors extra for fixtures/fittings/carpets etc?
Count yourself very lucky!Signature on holiday for two weeks0 -
We went in at under £125000 but they wouldnt accept. The house was originally on the market @ £139000. We're having to pay the stamp duty in full then our solicitor is going to refund it after Friday.0
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Our solicitor told us recently (last week) that although it's not payable until after completion it's based on when you exchange. So if you exchanged before today it would be payable, i think.
We're in the same kind of situation and we were advised to wait, glad we did
Hope you do get it back0 -
So if you exchanged before today it would be payable
No, it is the date of completion that is significant, see http://www.hmrc.gov.uk/so/temp-exempt-sdlt.htm.RICHARD WEBSTER
As a retired conveyancing solicitor I believe the information given in the post to be useful assuming any properties concerned are in England/Wales but I accept no liability for it.0 -
We're completing and exchanging on Friday this week. Im so worried that if we pay it and we're not obliged to we wont get it back.0
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Rang the inland revenue. We dont have to pay any stamp duty. They said not to give the solicitors anything apart from thier fees.0
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I concluded missives on a property (value £140,000) on Monday September 1st, with a view to entry/settlement date in November. Given the changes to stamp duty payment levels, the property would now be exempt from payment. However, as I have concluded missives, does anyone know if this means if I have to pay stamp duty?
Cheers0 -
You Are All Going To Pay Far More Dearly Than Stamp Duty.this Is The Fastest Housing Crash In History....It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0 -
Just found we are exempt from stamp duty which is positive. Thanks0
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