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FTB offer advice- Seller Pays SD

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Comments

  • anselld
    anselld Posts: 8,693 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Redguy17 wrote: »

    Did some more research and found out i have 30 days after completion to pay stamp duty which won't be an issue thought i need it up front.

    :

    Do more research.
    You will not be able to complete without paying stamp duty if you need a mortgage.
  • Pixie5740
    Pixie5740 Posts: 14,515 Forumite
    10,000 Posts Eighth Anniversary Name Dropper Photogenic
    Anselld beat me to it :). The 30 days after completion to pay the SDLT is applicable to cash buyers but you're not a cash buyer.
  • Redguy17
    Redguy17 Posts: 18 Forumite
    Thanks for clarifing!;) guys. Still need stamp duty upfront.

    HMRC does not make it easy for FTB's

    http://www.hmrc.gov.uk/payinghmrc/stampduty.htm
    Stamp Duty payment deadlines

    There is a 30 day time limit after execution (when the documents are dated and signed by all parties) for getting the document stamped and paying the required Stamp Duty. If you do not present your document to the Stamp Office with the correct duty payment within this deadline a penalty and interest may be charged.
    Stick to the track, dont be trapped by Babylon!
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