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What date is stamp duty effective?
soapstar88
Posts: 73 Forumite
Hi,
Taking into consideration that stamp duty will change in Scotland on the 1st of April to use LBTT I am hopefully going to be getting an offer accepted on a property soon and want to know from what date is stamp duty effective from?
For example say the offer is accepted this week and it then takes the typical 8-12 weeks to conclude. From what date is stamp duty effective? I want it to fall into April to save me money
Thanks!
Taking into consideration that stamp duty will change in Scotland on the 1st of April to use LBTT I am hopefully going to be getting an offer accepted on a property soon and want to know from what date is stamp duty effective from?
For example say the offer is accepted this week and it then takes the typical 8-12 weeks to conclude. From what date is stamp duty effective? I want it to fall into April to save me money
Thanks!
0
Comments
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Will the LBTT be lower than SDLT for you?
What is your purchase price?I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.0 -
Hi
Yes from my calculations on a 210K property i will save £400. Not much but its something! i just wanted to know from what date do they need the duty, is it the date when the money is handed over or when offer is formally accepted?0 -
£200 difference.
The entry (completion) date is the key one, check with your solicitor.
If your vendor is upsizing they will be less keen to wait until April.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.0
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