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New Stamp Duty - Budget 2016
Orchid34
Posts: 6 Forumite
Hey everyone,
I've just seen a great article explaining all of the new stamp duty changes for second homes and buy to let properties:
avanthomes.co.uk/avant-life/stamp-duty-2016
I've just seen a great article explaining all of the new stamp duty changes for second homes and buy to let properties:
avanthomes.co.uk/avant-life/stamp-duty-2016
0
Comments
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Your link is incorrect - £0-£125k is ALL @ 3%! https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/508272/GuidanceNote_Final.pdf
There is an exemption for properties below £40k but that is different from having a 0% band.0 -
But at least I now know not to listen to Avant homes!0
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OP seems to advertise various companys on each post
spam reportedNever, under any circumstances, take a sleeping pill and a laxative on the same night.0 -
Bluebirdman_of_Alcathays wrote: »Your link is incorrect - £0-£125k is ALL @ 3%! gov.uk/government/uploads/system/uploads/attachment_data/file/508272/GuidanceNote_Final.pdf[/URL]
There is an exemption for properties below £40k but that is different from having a 0% band.
---
gov.uk/government/uploads/system/uploads/attachment_data/file/508272/GuidanceNote_Final.pdf[/url]
"The higher rates will be 3% above the standard rates of SDLT but will not apply to
purchases of property under £40,000 or purchases of caravans, mobile homes and
houseboats."0 -
If the property purchase price is £40,000 or less, the SDLT is £0.
If the property value is above £40,000, SDLT starts from £0. There is not a £40,000 nil rate band for properties worth more than 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 -
So I am correct - thanks!---
gov.uk/government/uploads/system/uploads/attachment_data/file/508272/GuidanceNote_Final.pdf[/url]
"The higher rates will be 3% above the standard rates of SDLT but will not apply to
purchases of property under £40,000 or purchases of caravans, mobile homes and
houseboats."0 -
Does not apply to £40,000 so its 0%0
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Yes and if the purchase price is £40,001 the SDLT is 3% of £40,001.
So no nil rate band upto £40,000.
A property costing £125,000 is 3% of £125,000 not 3% of £85,000.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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Reported too........it's a terrible article anyway. For example, "all additional homes and buy to let residential properties" (their emphasis in bold, not mine) implies that this will be levied on all BTL, which isn't true. If you owned no homes and bought one to let, you'd pay the standard rate of SDLT.
With a few exceptions, it's levied on all additional residential properties. It doesn't matter whether it's a home, a BTL, or a mothballed investment.
Maybe I'm being picky, but the phrasing in the article is ambiguous at best."Real knowledge is to know the extent of one's ignorance" - Confucius0
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