Part exchange stamp duty query

rio

We did a part exchange on a new build about 15 years ago, at which time we only had to pay stamp duty on the difference in price of the two properties. We now want to move and are considering part exchange again. Does anyone know if the rules are the same, or do you now have to pay stamp duty on the whole cost of the property?

seabright

You pay it on the full price. Stamp Duty (which, believe it or not, was voluntary - after a fashion) has turned into Stamp Duty Land Tax (which is not) and lots of loopholes have been closed.

rio

Thanks for that, this will make a tremendous difference to the price we hold out for. We like the new build we can do an exchange on, but we are not desperate to move, so it will depend how keen the builders are to sell. They only have three houses left in the current phase of their development, and the sales office is moving across the road in two weeks time, so with a bit of luck we might get them to up the offer if we're not happy with it.