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stamp duty question - please help!
free4440273
Posts: 38,438 Forumite
hi, would somebody(ies) be so kind as to help me with this; it's really concerning me. my solicitor is going to fill out the SDLT form on our behalf. she has given me some notes, which all solicitors are obliged to do, explaining what stamp duty is, and the threshold at which it is paid; the bog standard stuff which i do understand. within the explanatory notes there is the following paragraph (as below) entitled 'Who is liable to pay SDLT' (she does not mean particular to us as her clients, it's just an explanatory sheet about stamp duty). there are three of us buying the property, is the paragraph really suggesting we each pay the stamp duty individually, three times over - our stamp duty tax is £13,500. is the inland revenue really suggesting this amount x three!! i hope this makes sense. thanks as always 
this is the paragraph (bold emphasis is mine).
"SDLT is a personal tax and it is the responsibility of all the buyers of the property to pay the SDLT. If there is more than one buyer, the SDLT liability is 'joint and several', which means that each and every buyer is personally liable to pay the whole tax".
this is the paragraph (bold emphasis is mine).
"SDLT is a personal tax and it is the responsibility of all the buyers of the property to pay the SDLT. If there is more than one buyer, the SDLT liability is 'joint and several', which means that each and every buyer is personally liable to pay the whole tax".
BLOODBATH IN THE EVENING THEN? :shocked: OR PERHAPS THE AFTERNOON? OR THE MORNING? OH, FORGET THIS MALARKEY!
THE KILLERS :cool:
THE PUNISHER :dance: MATURE CHEDDAR ADDICT:cool:
THE KILLERS :cool:
THE PUNISHER :dance: MATURE CHEDDAR ADDICT:cool:
0
Comments
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Joint and several means that you are responsible both together (joint) and individually (several). There is only one tax bill to pay, and how you divvy it up is up to you. If it is not paid, or not paid in full, then HMRC has the option of pursuing you jointly or individually irrespective of who has paid what.
Joint and several liability is normal on contracts involving more than one party.0 -
phew!! (wipes sweat from brow). thanks mcazrael, that's really kind of you. thanks for answering, especially when it is bedtime! i can have a good night's sleep now! again, much thanks. BLOODBATH IN THE EVENING THEN? :shocked: OR PERHAPS THE AFTERNOON? OR THE MORNING? OH, FORGET THIS MALARKEY!
THE KILLERS :cool:
THE PUNISHER :dance: MATURE CHEDDAR ADDICT:cool:0
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