Stamp Duty Calculator and Q&A discussion

Brodibunch

I currently have a charge against a property of 55k. All done legally and there is sufficient equity in the property to cover it. The property is being sold and I wish to purchase it. My question is am I liable to the full stamp duty amount or just on the balance required to purchase the property?

SDLT_Geek

The SDLT would be calculated on the total of the cash sum you pay and debt you forgive.

AnotherJoe

mbugsy18 wrote: »

The purchase price is £800K.

So put 800k in the calculator make sure you answer the question about replacing your main residence, Bobs your uncle.

mbugsy18

Thanks have done

katiepoppycat

Hi, I'm buying a new home and selling the current one - but there will almost certainly be an overlap of a couple of months. Will I have to pay the second home stamp duty or does the fact that the current house is on the market mean I only pay the lower rate? I know I can claim the difference back at a later date once I only have one house.

Slithery

You will have to pay the additional SDLT then claim it back after the sale of the current property.

FILSHAM

My daughter and I want to swap houses and with lockdown the properties are worth less but I’ve not had them revalued. Their house was worth 350,000 and ours 435,00. If we both got the asking price at the time. My daughter doesn’t need to remortgage and is just paying off some of my mortgage to make me mortgage free and I have their house. Can we both sell to each other for 249,000 to keep stamp duty down.

peggy101

Can anyone help?

My daughter and I plan to sell our homes and buy a commercial property, consisting of 3 houses (one being a rental), jointly.

How will the stamp duty be calculated?

SDLT_Geek

peggy101 said:

Can anyone help?
My daughter and I plan to sell our homes and buy a commercial property, consisting of 3 houses (one being a rental), jointly.
How will the stamp duty be calculated?

It seems that the property you want to buy is residential, not commercial, if it consists of three houses.  It seems likely that the higher rates of Stamp Duty Land Tax (with the 3% surcharge) will apply, but you might qualify for multiple dwellings relief.

LAH19

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