Stamp Duty

iwilldoitthistime

Hi

I know that the area in which I live is classed as 'disadvantaged' - or at least my old postcode was (2 mins down the road from my current home).

When i go to the stamp duty website and key in my new postcode, it does not recognise it. (the house is quite new)

My house is now worth over the stamp duty threshold.

Any ideas how I can find out if it is exempt??

thanks

olly300

Taken from:

http://www.hmrc.gov.uk/so/dar/dar-qualifying.htm

"If you are in any doubt about this (or if the property does not have a postcode) you are advised to make further enquiries. Developers or local authority planning departments may be able to help with this."

Contact the local council planning officer.

MarcD_2

It's likely to be because the property is fairly new and isn't on the postcode database yet. I had problems when I bought my new flat a few years ago - the postcode wasn't showing up on the inland revenue checker.

The exemption is based on electoral wards, so to prove that the flat was in a disadvantaged area and exempt from stamp duty, I provided my solicitor with a map showing the property within the electoral ward boundaries, and also provided postcodes of surrounding properties, which were showing up on the postcode checker as within a qualifying area. This was deemed acceptable and I didn't have to pay stamp duty up front, as their initial suggestion was I paid the stamp duty, then Inland Revenue would determine whether or not it was exempt and would refund if they decided it was - needless to say I was not in favour of that option!

akh43

If you are in a disadvantage area, but paid over £150,000 stated does that mean you have to pay the full stamp duty on the total price or do you pay a reduced price on the amount over £150,000?

olly300

You pay stamp duty on the total price.