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SDLT Disadvantaged areas releif
hoponhiggo
Posts: 34 Forumite
Im currently in the process of buying a house, with a purchase price of £150,000. Ive calculated (not that it was hard) that the Stamp Duty Land Tax would be £1500.
However, i have recently stumbled across a HMRC site that allows you to enter the postcode of the property that you are purchasing and it tells you if its in a disadvantaged area and may be eligibale for stamp duty releif - fortunately the property im purchasing is.
..."hmrc.gov.uk/sdlt/calculate/reliefs-exemptions.htm#1"....
Nobody has ever mentioned this to me before, so i was just wondering if this is a current thing and not just a really out of date site?
Does anybody have any knowledge of this?
However, i have recently stumbled across a HMRC site that allows you to enter the postcode of the property that you are purchasing and it tells you if its in a disadvantaged area and may be eligibale for stamp duty releif - fortunately the property im purchasing is.
..."hmrc.gov.uk/sdlt/calculate/reliefs-exemptions.htm#1"....
Nobody has ever mentioned this to me before, so i was just wondering if this is a current thing and not just a really out of date site?
Does anybody have any knowledge of this?
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Comments
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Yes. It is genuine.0
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Thats cool then. Hopefully, as the property is in a "disadvantaged area" and im a first time buyer, with a purchase price of £150,000 the transaction will be exempt.0
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Check very carefully. Not every property in a postal area may qualify. One street near me is split, with one side of the road in the disadvantaged area, the other outside it.
Make sure you bring this to the attention of your conveyancer/solicitor. They will automatically expect SD to be payable and may not check if you don't mention it.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
I understand that the exemption is being withdrawn this April so you will need to complete quickly.RICHARD WEBSTER
As a retired conveyancing solicitor I believe the information given in the post to be useful assuming any properties concerned are in England/Wales but I accept no liability for it.0 -
Solicitor confirmed yesterday that when the sale completes, i would not be paying stamp duty. £1500 will pay for the bathroom suite
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