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Who pays stamp duty
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cv65user
Posts: 145 Forumite
I just got a quote from the solicitor said it's £800 +1% stamp duty I don't understand it.
Do they mean the charges are 800+ 1% of stamp duty which means I have to pay an additional £2000 on a selling price of £200,000.00 property to hmrc? And a further 800+ 2000 to solicitor
Do they mean the charges are 800+ 1% of stamp duty which means I have to pay an additional £2000 on a selling price of £200,000.00 property to hmrc? And a further 800+ 2000 to solicitor
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Comments
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Yes, at completion you will need to give the solicitor £2000 in addition to their fees. They will pass this on to HMRC. Great isn't it!0
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I don't quite understand the question.
But the stamp duty is payable to HMRC. Once.
Your solicitor will make this payment for you.
So you have to pay the solicitor.0 -
I just got a quote from the solicitor said it's £800 +1% stamp duty I don't understand it.
Do they mean the charges are 800+ 1% of stamp duty which means I have to pay an additional £2000 on a selling price of £200,000.00 property to hmrc? And a further 800+ 2000 to solicitor
No, you pay the Stamp Duty once, VIA the solicitor - you give it to him, he gives it to the Tax Man.0 -
yeah i didnt understand if the charges was , for exmaple if 1% stamp dutry on 200,000.00 house
a
800 + extra 2000 fees solicitor pockets + 2000 stamp duty to hmrc
or b
800 solicitors + 2000 to hmrc .0 -
Definitely b!!What matters most is how well you walk through the fire0
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yeah i didnt understand if the charges was , for exmaple if 1% stamp dutry on 200,000.00 house
a
800 + extra 2000 fees solicitor pockets + 2000 stamp duty to hmrc
or b
800 solicitors + 2000 to hmrc .
As pp says, definately b)!
But remember Stamp Duty is not the only 'disbursement' the solicitor will pay out on your behalf and then expect you to re-imburse him.
Searches etc.... Read here.0
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