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Stamp duty overhaul

135

Comments

  • racing_blue
    racing_blue Posts: 961 Forumite
    You are right, I should have said £1,000,001
  • lovinituk
    lovinituk Posts: 5,711 Forumite
    1,000 Posts Combo Breaker
    racing_blue wrote: »
    You are right, I should have said £1,000,001
    Oh yeah, I missed that it was so close! Someone on another thread said that only prices under nine hundred thousand and something would save but you're quite right that £1,000,001 and up for a bit make some good savings too.
  • pinkteapot
    pinkteapot Posts: 8,044 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    edited 3 December 2014 at 4:46PM
    lovinituk wrote: »
    Oh yeah, I missed that it was so close! Someone on another thread said that only prices under nine hundred thousand and something would save but you're quite right that £1,000,001 and up for a bit make some good savings too.

    That might have been me. Corrrecting myself:

    Everyone paying £937,500 or less will pay the same or less stamp duty.

    Most (not all - correction) people paying over £937,500 will pay more, with some exceptions at prices just around £1m.

    The biggest relative savings are still for those lower down the scale by a long way. £4,800 means a lot more to someone buying at £260k than £6k does to someone buying at just over £1m. And those buying at more than a couple of million will be paying a lot more than before.
  • kidmugsy
    kidmugsy Posts: 12,709 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    pinkteapot wrote: »
    And those buying at more than a couple of million will be paying a lot more than before.

    A SORT OF MANSION STAMP DUTY, THEN.

    Oo, he's a fly boy.
    Free the dunston one next time too.
  • Cissi
    Cissi Posts: 1,131 Forumite
    pinkteapot wrote: »
    And those buying at more than a couple of million will be paying a lot more than before.

    Yes, those of us in London will end up paying massively more... As I said on the other thread, our West London house (4-bed, not exactly a mansion!) is probably worth just under £2M today - old SDLT would have been £100k, new one £153k, a whopping £53k increase! Luckily we have no plans to move, so this is less bad for us than a mansion tax would be. Just because the whole area has increased ridiculously that doesn't mean that we have piles of cash lying around...
  • suestew
    suestew Posts: 372 Forumite
    Part of the Furniture 100 Posts
    so what is the new cost on £127,500, when I put it in the calculator it didn't look right?
  • diddy6662009
    diddy6662009 Posts: 3 Newbie
    suestew wrote: »
    so what is the new cost on £127,500, when I put it in the calculator it didn't look right?



    2% on 2500 so only £50 Lucky you!!
  • diddy6662009
    diddy6662009 Posts: 3 Newbie
    Very Frustrated. Just bought a house at 130k. I paid 1300 in SDLT. Now it works out after midnight tonight it would now only be £100!!!! what the....
    Do I feel slapped in the face. Surley you can claim this back..??anyone??
  • lovinituk
    lovinituk Posts: 5,711 Forumite
    1,000 Posts Combo Breaker
    diddy6662009 wrote: »
    Very Frustrated. Just bought a house at 130k. I paid 1300 in SDLT. Now it works out after midnight tonight it would now only be £100!!!! what the....
    Do I feel slapped in the face. Surley you can claim this back..??anyone??
    Nope, sorry. The changes are only for those that complete after midnight tonight. There has to be a line drawn somewhere and midnight tonight is that line.
  • Carpi09
    Carpi09 Posts: 300 Forumite
    Seventh Anniversary 100 Posts Combo Breaker
    I was panicking at first thinking it had actually gone to 2% with me about to complete in a week or two. Thank goodness for calculators, saving me £1020!!
    :j

    Planning for my future early

    :T Thank you to the members of the MSE Forum :T
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