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stamp duty - how much
charlie007
Posts: 413 Forumite
hello
just wanted some infor - am looking at moving this spring and wondered how much stamp duty is and also i think there is a limit of the value of the property when you start paying it, it was 60,000 does anyone know what it is now?
just wanted some infor - am looking at moving this spring and wondered how much stamp duty is and also i think there is a limit of the value of the property when you start paying it, it was 60,000 does anyone know what it is now?
Mortgage free Start amount feb 2014 227000. Current amount nov 2014 217000.
Challenges 2015
No alcohol January. No spend February
Write down all spends over the whole year
Challenges 2015
No alcohol January. No spend February
Write down all spends over the whole year
0
Comments
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1% of purchase price when purchase price is £125k- £249,999
3% of purchase price £250k+Who made hogs and dogs and frogs?
0 -
When do you have to pay it?
Thanks
CharlieMortgage free Start amount feb 2014 227000. Current amount nov 2014 217000.
Challenges 2015
No alcohol January. No spend February
Write down all spends over the whole year0 -
I think it's within 30 days of completion but your solicitor should advise and do it for you with the required paperwork. Also, not much difference,it's over £125K & £250K, so at dead on £125k it's zero and so on.0
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stamp duty is a swizz, most houses under 125k arnt worth buying!0
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It is exempt up to 150k if you are buying in a "deprived" area. You can check at https://www.HMRC.gov.uk.we have love enough to light the streets.0
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Most solicitors insist on the money before you complete, as they have to do the paperwork after completion and don't want to be left with the hassle of having to chase for the money.:grouphug: Things can only get better.0
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needstoknow wrote:stamp duty is a swizz, most houses under 125k arnt worth buying!
You can get a nice 3 bed semi in decent area of town for under £125k here.Who made hogs and dogs and frogs?
0 -
needstoknow wrote:stamp duty is a swizz, most houses under 125k arnt worth buying!
It's clearly an unfair tax that could so easily be improved.
If I was Chancellor I'd improve it by using the following formulae:
FTB
(House Price - £100k) * 5%
On moving up the ladder
New House Price - Old House (selling) Price * 5%
On moving down the ladder
Nil (to encourage people to downsize and ease housing problem)
Figures in bold italics to be set to recover the amount of tax needed to be raised.
GGThere are 10 types of people in this world. Those who understand binary and those that don't.0 -
How will moving down the ladder ease property prices? Sorry but that just wont work.A bargain is only a bargain if you would have brought it anyway!0
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