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Received bill from solicitor - error in calculation of Stamp Duty??
DOUG
Posts: 3 Newbie
We exchanged contracts a few days ago and the solicitor has sent a breakdown of costs incurred that need to be paid in the next few days and it's £10,500 more than we expected!
Partly this is an error on the mortgage companies side which our broker is dealing with but the solicitor is saying we need to pay £17,100 in stamp duty on a £417,000 house!!!
My calculations work it out to be £10,850 so a difference there of £6,250.
I have to wait to speak to him on Monday but i just wanted to check that apart from the stamp duty on the £417,000,there is nothing else due to HMRC? I have the Land transaction return which he has entered the figures into ready for us to sign. It's not been a good day so far!!
Partly this is an error on the mortgage companies side which our broker is dealing with but the solicitor is saying we need to pay £17,100 in stamp duty on a £417,000 house!!!
My calculations work it out to be £10,850 so a difference there of £6,250.
I have to wait to speak to him on Monday but i just wanted to check that apart from the stamp duty on the £417,000,there is nothing else due to HMRC? I have the Land transaction return which he has entered the figures into ready for us to sign. It's not been a good day so far!!
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Comments
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Using the HMRC calculator, I make it £10,850
http://www.hmrc.gov.uk/tools/sdlt/land-property-results.htm?dates_Transaction=20%2F01%2F2015&moneyResidential=417000&moneyNonResidential=0
Even using the pre-Dec 2014 rules it would have been only £12,510.
Write to your solicitor with a correction.0 -
I suspect a copy & paste error or previous client's statement used as a template for yours.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
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Could it be part of a linked transaction? Are you buying a second parcel of land nearby which might not attract SDLT on it's own but does as part of a linked transaction.
If not, then I suspect a copy paste error too.
Xxx0
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