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Stamp Duty Threshold Raised to £250k
Matty0682
Posts: 119 Forumite
Hi Guys,
I’ve just been listening to the Budget and AD announced that the stamp duty threshold will be doubled from £125k to £250k from midnight tonight for first time buyers
Does anyone know the Inlands Revenue definition of “first-time-buyer”?
The reason I ask is because I bought a flat in 2006 and sold it last year for the same price. I am in the process of buying a house with my wife and it is costs under new £250k threshold, so I am technically a FTBer, but what about in the eyes of the Inland Revenue?
If so I will be exempt from paying stamp duty.
Thanks for yr help
I’ve just been listening to the Budget and AD announced that the stamp duty threshold will be doubled from £125k to £250k from midnight tonight for first time buyers
Does anyone know the Inlands Revenue definition of “first-time-buyer”?
The reason I ask is because I bought a flat in 2006 and sold it last year for the same price. I am in the process of buying a house with my wife and it is costs under new £250k threshold, so I am technically a FTBer, but what about in the eyes of the Inland Revenue?
If so I will be exempt from paying stamp duty.
Thanks for yr help
0
Comments
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Matty-lots of threads on this, we don't know so far!Scar tissue that I wish you saw, sarcastic mister know it all, close your eyes and I'll kiss you cause with the birds I'll share this lonely view.0
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As mentioned on other threads, just phoned my solicitor and asked the same question as I'm in your exact situation.
Her hunch (details not available yet) is that it will exclude anyone who has previously completed on a purchase. Therefore, we (and you) won't escape paying stamp duty.
But, as I said, she doesn't have the full terms and conditions yet. I'd contact your solicitor...0 -
ftb= name on land registry0
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Not another Stamp duty thread...doh.0
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sarah_elton wrote: »As mentioned on other threads, just phoned my solicitor and asked the same question as I'm in your exact situation.
Her hunch (details not available yet) is that it will exclude anyone who has previously completed on a purchase. Therefore, we (and you) won't escape paying stamp duty.
But, as I said, she doesn't have the full terms and conditions yet. I'd contact your solicitor...
Thanks for yr quick response.
Next time I'll read other threads first!0
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