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Stamp duty removal - effective when?
Comments
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Geordie_bear wrote: »there's always one smart@rse
There's always one stupid question!
Headline: "Stamp duty threshold raised for first time buyers".
Question: "Is it for first time buyers?"
LOL!!!!!!!!! :rotfl: :rotfl: :TYou're spelling is effecting me so much. Im trying not to be phased by it but your all making me loose my mind on mass!! My head is loosing it's hair. I'm going to take myself off the electoral role like I should of done ages ago and move to the Caribean. I already brought my plane ticket, all be it a refundable 1.0 -
I had an offer accepted on a house yesterday, it should save me about £1600.
I wanna kiss him between those big bushy black eyebrows!
Glad for you:)
Althrough £1600 is not enough to make me brave those eyebrows!!:rotfl::silenced:They Were Up In Arms wrote: »I think tabskitten is a crying, walking, sleeping, talking, living troll :cool:0 -
Ok so here's the deal, I have been in contact with my solicitor and HM Revenues and Customs as I complete on Friday.
The new holiday is for first time buyers only and is effective from midnight tonight. The purchase price has to be under £250k and for residential properties only.
With this in mind, it looks like my stamp duty will be refunded to me! So happy right now!0 -
It is defo for FTBs only and it is effective for TWO years.
http://www.hmrc.gov.uk/budget2010/sdlt-qa-tech-1545.pdfGet to 119lbs! 1/2/09: 135.6lbs 1/5/11: 145.8lbs 30/3/13 150lbs 22/2/14 137lbs 2/6/14 128lbs 29/8/14 124lbs 2/6/17 126lbs
Save £180,000 by 31 Dec 2020! 2011: £54,342 * 2012: £62,200 * 2013: £74,127 * 2014: £84,839 * 2015: £95,207 * 2016: £109,122 * 2017: £121,733 * 2018: £136,565 * 2019: £161,957 * 2020: £197,685
eBay sales - £4,559.89 Cashback - £2,309.730 -
The purchase price has to be under £250k and for residential properties only.
Oh dear all this £249,999 stuff again. When will people look at what it says? The exemption applies if the purchase meets certain conditions and the price does not exceed £250,000.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 -
So the maximum anyone can save is 2,500 (1% of 250K). In the scheme of things when the country is in too much debt and overall taxes need raising and if the house market is in recovery (as the recent rises are argued to show) then why cut stamp duty? The answer is obviously that first time buyers are struggling. Surely the solution to this is that house prices are too high (as the credit crunch with high street banks needing massive bailouts from the taxpayer shows). Yet what's done in this Alice in Wonderland country is to artificially prop up house prices and encourage yet more FTBs to take the plunge into an uncertain market. Fair enough Gordon is desperate to get re-elected but if the house market was in good shape this tax cut would not be needed. Yet here we are with a tax cut that can't really be afforded thus showing yet again the market is in bad shape! Why does everyone fall for it? I feel desperately sorry for those FTBs who are now lured to buy and run the risk of negative equity in two or three years time
Those that were buying anyway didn't really need the windfall. 0
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