stamp duty - pay within 30 days of signing contract

nets1983

Hi hope you can help. I'm signing the contract and due to move into our first house soon, I know you can pay stamp duty with 30 days of signing the contract but are you allowed to legally live in the property in the 30 days before you pay?
:question:

Yorkie1

Yes. The 30 day period is to enable the administrative arrangements for the payment to be done without penalty. You can move in as soon as you have completed.

nets1983

thanks for your reply yorkie! do you know how much the penalty is when you pay it late?

kingstreet

Can I point out you can only do this if you pay cash. If you need a mortgage, the CML handbook requires the solicitor to collect it at completion.

silvercar

Your solicitor also acts for your mortgage lender. They therefore have an obligation to ensure the lenders charge on the property is registered with the deeds at land registry. To do this they need to register you as the owner at the same time, this can only be done when the stamp duty is paid.

So your solicitor will want the stamp duty money before completion, though it can still take a few days to register the property.