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STAMP Duty (Second Home)
Comments
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If one choses to write down their goal and chase them, he/she shouldn't be accused with wanting to have./eat their cake.
But the reality is you are.
The point people are alluding to is you did so with significant taxpayer based help.
It's a bit rich to then moan that you don't think a tax should be applicable to you.
You have options, it's now your choice.0 -
Most 20 year olds don't have secure tenancies in social housing. Most 20 year olds aren't building up a discount because they rent in the private sector yet some of us manage to pay higher rents than those in council housing and save up a deposit so you can get back off your high horse.
Wanting to buy further properties without paying the extra SDLT is trying to have your cake and eat it. A £400k property attracts SDLT of £10k, with an additional 3% it becomes £22k and I bet that your RTB discount was much greater than the £12k discount.0 -
Does your RTB discount allow you to rent the property out, or are you going to have to pay that back to enable you to rent the property out?0
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laidbackgjr wrote: »Does your RTB discount allow you to rent the property out, or are you going to have to pay that back to enable you to rent the property out?
It's one of the many, many flaws with RTB but you can exercise your RTB and start letting the property out immediately if you so desire without having to repay any of your discount. It's only if you try and sell your property within the first 5 years that you will need to repay some or all of your discount.0 -
in an effort not to create another thread but on the same subject and issue faced by many parents....How do you all feel about the below given its the only option for those with parents willing to help and possibly the only option for young people...
I. E Parents incurring the extra 3% for helping their child get on the ladder?0 -
in an effort not to create another thread but on the same subject and issue faced by many parents....How do you all feel about the below given its the only option for those with parents willing to help and possibly the only option for young people...
I. E Parents incurring the extra 3% for helping their child get on the ladder?
Parents who want to help could gift them the money - no need to be on the deeds, no need to pay the extra stamp duty.0 -
thank you all0
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That said, an argument can be made that its a very unthought-through tax (disregarding my RTB scenario)
An unsurprising assertion, when it comes from the perspective of those likely to incur the tax. In my view, a consultation paper that has 42 examples can't be asserted to be "unthought-through", to be quite honest.0 -
thank you all0
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Not the case.Another scenario I have just read is one where a parent helps their child get their first flat and as a result they are charged the extra 3% if they are on the mortgage.
Being a guarantor, for example, means being party to the mortgage. As you would not be party to the ownership of the property the new SDLT regime would not apply.
Only joint ownership would cause that.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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