stamp duty

plumb1_2

I know that when buying a house etc below £60,000,there is no stamp duty,so when buying one for say £65,000 what would the duty be?Is it per 1k,or is it in bands?

trafalgar_2

On £65,000 it is 1% of the total purchase price

It is in bands

http://www.inlandrevenue.gov.uk/pdfs/sd2.htm

plumb1_2

Is there a way round stamp duty,say offer £59.999 to buy the property and offer a £5000 completion bonus for the salein a certain amount of time.

Quote from inland revenue
SDLT is charged only on the purchase price of the land and buildings, including fixtures (such as, fitted kitchens and bathroom suites), which are part of the land as a matter of law.

However, buyers sometimes agree with the seller to pay a separate sum, on top of the property price, for certain items (known as ‘chattels’) that the seller decides not to take with them when they move. These items include

curtains
carpets, or
other moveables.

trafalgar_2

I really don't know the answer to that one ,I have an opinion but wouldn't want you to do anything that could be illegal ::)

Hopefully someone a bit more 'up' on stamp duty rules could help you

yonk

The distortion of prices around the stamp duty bands (60k, 250k etc) is why the Govt changed how Stamp Duty is paid. So to catch people paying 5k for a tatty bit of carpet.....and that's why SDLT it is not far more detailed.

divadee

They are clamping down on people over-charging for fixtures and fittings to avoid stamp duty. You now have to fill in a form from the inland revenue. It may be worth asking your solicitor's advice and see what he/she says.