Stamp Duty Calculator and Q&A discussion

CheesyWiggles

LAH19 said:

I’m not a first time buyer but my partner is. How would stamp duty work? 

You wouldn’t have first time buyer status if buying together, so wouldn’t get the ftb status for stamp duty purposes

Sweeney1

Just wondering, if stamp duty is scrapped for 6 months from tomorrow, and I've negotiated with developer to pay stamp duty on new build I'm buying at price of 290k as incentive to buy, can I now renegotiate? Should I expect some of his saving to come to me? Any advice welcome!

Slithery

Sweeney1 said:

Just wondering, if stamp duty is scrapped for 6 months from tomorrow, and I've negotiated with developer to pay stamp duty on new build I'm buying at price of 290k as incentive to buy, can I now renegotiate? Should I expect some of his saving to come to me? Any advice welcome!

https://forums.moneysavingexpert.com/discussion/6165887/stamp-duty-incentive-on-new-build

lorra63

I am in the process of purchasing a property with my partner of 6 years. The property is under the £500k for payment of stamp duty so what’s the issue? My partner is still officially married (long story but you can’t force someone to divorce if they don’t respond!) and still named on the deeds and mortgage for the former marital home - even though he is handing everything over to her.  The new property will be paid for with a large deposit from both of us and I am able to source a mortgage for the remainder. However because of the deposit he is contributing, this will make the property a second home and liable for stamp duty? Is this correct?  

And can I do anything to not be liable?

Hungry_nurse

My solicitor has updated my financial statement to show zero land tax due, but still wants money to fill in the form. Is there still a form to fill in even? I know the small amount for the form pales into bare insignificance when compared to overall costs... but still!

Hungry_nurse

lorra63 said:

I am in the process of purchasing a property with my partner of 6 years. The property is under the £500k for payment of stamp duty so what’s the issue? My partner is still officially married (long story but you can’t force someone to divorce if they don’t respond!) and still named on the deeds and mortgage for the former marital home - even though he is handing everything over to her.  The new property will be paid for with a large deposit from both of us and I am able to source a mortgage for the remainder. However because of the deposit he is contributing, this will make the property a second home and liable for stamp duty? Is this correct?  

And can I do anything to not be liable?

If she is still on the deeds of marital home, it's a second home sadly. Her ex needs to show deeds with his sole name 

davidmcn

Hungry_nurse said:

My solicitor has updated my financial statement to show zero land tax due, but still wants money to fill in the form. Is there still a form to fill in even?

Yes, if the consideration is over £40k then a return still needs to be submitted even if no tax is actually payable.

Slithery

Hungry_nurse said:

My solicitor has updated my financial statement to show zero land tax due, but still wants money to fill in the form. Is there still a form to fill in even?

Yes.

Halseyhalsey2020

Hi,
I have purchased a house for £ 205000 (cash buyer) - so no mortgage and signed contract 7.8.2020 - but I've been told that I still need to pay the stamp duty, is that correct. I believe that purchases under £250000 are extempt to pay the duty??  what can I do if they take the stamp duty payment regardless??
Thanks!

SDLT_Geek

As you completed after the "holiday" which began on 8 July 2020 the SDLT is either zero or at 3%.  It could be at 3% if the rules for "additional properties" apply.