House cost £170,000- still paying stamp duty?

refluent

I'm a first time buyer, purcasing a house in wales for £117,000.

I've recieved a list of monies to be paid on completion.

One item is 'Paid Stamp Duty on Purchase Deed £1,170.00'
also 'Stamp Duty Land Tax £75.00'

I thought no stamp duty was charged on properties below £125,000?!

Can someone please explain what these charges are for and whether I'm meant to be charged for them.....

Thanks...

MyUserNamesTaken

refluent wrote:

I'm a first time buyer, purcasing a house in wales for £170,000.

I've recieved a list of monies to be paid on completion.

One item is 'Paid Stamp Duty on Purchase Deed £1,170.00'
also 'Stamp Duty Land Tax £75.00'

I thought no stamp duty was charged on properties below £125,000?!

Can someone please explain what these charges are for and whether I'm meant to be charged for them.....

Thanks...

The house you bought was over £125K (it's £170K), therefore you pay stamp duty.

thelawnet

refluent wrote:

I'm a first time buyer, purcasing a house in wales for £170,000.

I've recieved a list of monies to be paid on completion.

One item is 'Paid Stamp Duty on Purchase Deed £1,170.00'
also 'Stamp Duty Land Tax £75.00'

I thought no stamp duty was charged on properties below £125,000?!

Can someone please explain what these charges are for and whether I'm meant to be charged for them.....

Thanks...

stamp duty should be £1700. There is no marginal relief, so you pay it on the whole price.

E.g., price, £124k, stamp duty = zero. Price £126k, stamp duty = £1260

refluent

Sorry i meant £117,000

lynzpower

well if the house was 117 then no you dont pay it, phone your solicitor and tell them theyve made a mistake

refluent

I did, he said it isn't stamp duty it's something else!

MyUserNamesTaken

refluent wrote:

I did, he said it isn't stamp duty it's something else!

Ask him to send you a revised bill stating exactly what that charge is for.

refluent

Will do, cheers...

MyUserNamesTaken

refluent wrote:

Will do, cheers...

Once you get it in writing, you can dispute it.

scope

refluent wrote:

I'm a first time buyer, purcasing a house in wales for £117,000.

I've recieved a list of monies to be paid on completion.

One item is 'Paid Stamp Duty on Purchase Deed £1,170.00'
also 'Stamp Duty Land Tax £75.00'

I thought no stamp duty was charged on properties below £125,000?!

Thanks...

I think somebody has made big mistake, or perhaps they are trying a fast one.. The only cost a solicitor has that is this big IS the Stamp duty, and the bill clearly states Stamp Duty, so what else can it be?

MyUserNamesTaken

scope wrote:

I think somebody has made big mistake, or perhaps they are trying a fast one.. The only cost a solicitor has that is this big IS the Stamp duty, and the bill clearly states Stamp Duty, so what else can it be?

I agree, which is why the OP should get a revised bill to see what the Solicitor is claiming it is for. Once he has that info, he can dispute the bill. As far as I can remember, there is nothing a solicitor does for a house purchase that should result in a single item transaction for that sort of money, other than stamp duty.

OP, are you able to type out the whole bill? That way, we can try to get an idea of what else the solicitor thinks it could be.