Stamp Duty Land Tax Return Query...

superslimred

Hi,

I have got 2 conveyancing quotes for a property purchase, £73,000 Freehold

The first is from an online conveyancer.

Legal Fee inc VAT: £399.50
Local Search Fee: £115.00
Land Registry Fee: £60.00
Land Reg & Bankruptcy Fee: £8.00
Admin (Postage etc): £35.25
Bank Transfer Fee: £35.25
Total: £653.00

The second from a local Solicitor.

Legal Fee inc VAT: £420.00
Local Search Fee: £98.50
Land Registry Fee: £60.00
Land Reg & Bankruptcy Fee: £10.00
Bank Transfer Fee: £23.50
Stamp Duty Land Tax Return Fee: £58.75
Total: £670.75


So the difference being the "Stamp Duty Land Tax Return" fee which isn't included in the first quote, i don't know much about it, but if i am purchasing a house for £73000, then i wont be paying Stamp Duty, does anyone know if this form needs to be completed for ALL house sales or just ones that are liable for Stamp Duty?

kdean

Although there will be no stamp duty payable I am pretty sure that you would still have to complete a land tax return. I could be wrong as I gave up work not long after this new form came in so did not have much experience in it. Speak to the solicitor and see if it would be needed because they may have just sent out a standard(ish) quote and it might not be payable. Many solicitors (all that I have worked for) also make a charge for mortgagees fees (acting on behalf of the mortgage company) but this is not listed either, make sure they are aware that you are getting a mortgage and that there will be no additional cost for this.

ormonde

We have just bought a house for £124k and so did not have to pay stamp duty but you still have to fill in and return the form. My solicitor offered to fill it in for us for £50 + vat(£58.50) but we chose to fill it in ourselves. It was easy and straight forward to complete.
HTH