Stamp Duty question: Is my solicitor right?

parkylad

Thank you all for you replies.

The spanner in the works was my buyer wanting to wait on a date from his builder to do some needed work on the roof. The date given by his builder would dictate the date he would want to complete.

@ CJE: Yes, I definitely agree, this would be the reason why the solicitor is so adamant that the return is done when the transaction completes.....to save her doing it twice. I would pay the SDLT on the second return if it was in the New Year so I would no better off forcing her to do one now on the grounds of possession.

Oh well, I will have to see what I can do to co-erce the buyer into completing this side of Christmas otherwise I'll just have to cough up.

Thanks again.

chappers

I think cannonfodders quote is pretty straight forward and self explanitaory, I would ponit your solicitor in that direction let him get in touch with HMRC and let him base his decision on that.

Richard_Webster

Quote:
Originally Posted by Richard Webster
If there is no mortgage involved then the practical answer is to complete the SDLT form now and see whether there is any come back - the worst that can happen is you have to pay the £1400 but you could well get away with it.
Surely they should do more than complete the SDLT form now. They should convey the property to the OP, whilst leaving the purchase money outstanding as a loan. That can be secured on the new property as well as the old property, if the OP's family don't just trust him to pay over the money when he has it. This way, there's no question that the transaction has completed before 31 Dec.

Actually if it is family transaction then you can probably do this. if there are mortgages involved there might be difficulties - but it is certainly worth looking it.