We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Stamp Duty Confused
taylor1_2
Posts: 32 Forumite
Hello all
We are in the process of purchasing our first house, we were told that due to the area we were exempt from stamp duty after liasing with our Sol he did point out that unfortunatley we were just outside the area that they class as deprived (didn't know this existed) any way being nosey i have noticed that a house on the same road as ours is being advertised as NO STAMP DUTY i'm a little confused as to why a 2 houses in the same road 1 pays duty and the other doesn't? i do know that Vendors sometimes pay duty bought they normally state that don't they??
Any feedback would be great.
We are in the process of purchasing our first house, we were told that due to the area we were exempt from stamp duty after liasing with our Sol he did point out that unfortunatley we were just outside the area that they class as deprived (didn't know this existed) any way being nosey i have noticed that a house on the same road as ours is being advertised as NO STAMP DUTY i'm a little confused as to why a 2 houses in the same road 1 pays duty and the other doesn't? i do know that Vendors sometimes pay duty bought they normally state that don't they??
Any feedback would be great.
0
Comments
-
Are they are on opposite sides of the same road? Boundaries often run down the middle of roads, rather than around them...
Just one explanation!Errors of opinion may be tolerated where reason is left free to combat it. - Jefferson0 -
I'm not sure we have driven up and down being nosey to see what the area in general is like but we haven't come across a for sale board.
I'ts what we have seen on the internet.0 -
These links may help:
http://www.hmrc.gov.uk/so/dar/dar-qualifying.htm
http://www.hmrc.gov.uk/so/dar/index.htm0 -
Thanks Tiger great link it looks as if EA have it wrong,
Thanks again0 -
Maybe the boundary of the deprived area runs down the middle of the road? In the late70s/early 80s when we were buying our house, the boundary for the Housing Action Area ran down the middle of our road so that one side could get the grants and the other side could not. Luckily we were on the 'right' side!(AKA HRH_MUngo)
Member #10 of £2 savers club
Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton0 -
Isn't it weird how they make these decision all we know we have to pay £1300 and the others don't.0
-
they will make the decision on the postcode and address. I expect theyve put it into the hMRC WEBSITE, but do check yourslef just to make sure?:beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
Theres no dollar sign on piece of mind
This Ive come to know...
So if you agree have a drink with me, raise your glasses for a toast :beer:0 -
I live in a "disadvantaged area" and when I bought the house I didn't have to pay any stamp duty due to this. However, we are now in the process of wanting to sell (and this area is still classified as being "disadvantaged") but the house has been valued at £159,950 - does this mean that because the value is over £150k that the buyer will have to pay stamp duty? I don't knopw whether to advertise it as stamp duty exempt or not???
Advice appreciated, thanks!0 -
Ihatedida - the threshold is £150k - therefore your buyers will need to pay stamp duty above that price. I've not seen an explanation as to why there's a threshold though - either it's in a disadvantaged area or it isn't!
I think the reason that the boundaries are so unclear - ie opposite sides of the same road are classed differently - is because it goes by the postcode rather than the logical geographical layout of the area.
You could check you've got the correct postcode for your property by visiting https://www.royalmail.com.
I had no idea that there was such a thing as SDLT exemption for being in a disadvantaged area and paid SD back in January. I got a letter a couple of days ago to say that a refund - plus any interest - is on it's way!0 -
Thankyou T_G - what a bummer! I was hoping that it would be an attractive incentive for someone - we've now got to work harder at selling!!!!0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.8K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.6K Spending & Discounts
- 247.6K Work, Benefits & Business
- 604.6K Mortgages, Homes & Bills
- 178.6K Life & Family
- 262.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards