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Stamp duty charge
stranger12
Posts: 558 Forumite
Hi all,
I am trying to avoid paying the higher rate. If my property which i live in gets to exchange but not completion and i purchase and complete another place do i still have to pay the higher rate and claik it back?
Thanks
I am trying to avoid paying the higher rate. If my property which i live in gets to exchange but not completion and i purchase and complete another place do i still have to pay the higher rate and claik it back?
Thanks
0
Comments
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You own two houses at the end of the transaction so yes you pay.0
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You have 36 months to sell your (second) property to enable you to claim back the 3% stamp duty which you will have paid out.
Rachel0 -
I own my current home as said and dont want to pay the extra on completion and thrn claim it back
So how can I avoid it?
Does my current home purchase need to be completed or can i ezchange contract and on new home pay less0 -
stranger12 wrote: »I own my current home as said and dont want to pay the extra on completion and thrn claim it back
So how can I avoid it?
Does my current home purchase need to be completed or can i ezchange contract and on new home pay less
You need to complete your sale and purchase on the same day, which is normally how it works anyway.0 -
It is tough though to complete at same day and bloody move at same day0
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There are no other answers to your question. Either complete the sale and onward purchase on the same day or incur the 3% SDLT surcharge and reclaim it within 36 months if you sell later within that period.
The vast majority of movers who have a property to sell are able to sell and purchase on the same day, myself included.0 -
If you complete on same day, can you give the keys late in evening?0
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Not really. Normally everyone is packed-up and loaded before completion.
Your buyers probably need to move in that day, and have no desire to do so late in the evening. People expect to pick up keys around lunchtime."Real knowledge is to know the extent of one's ignorance" - Confucius0 -
stranger12 wrote: »If you complete on same day, can you give the keys late in evening?
No. Hire a removal company and do it properly. It isn't difficult unless you or someone else in the chain decides to do something stupid.0 -
stranger12 wrote: »It is tough though to complete at same day and bloody move at same day
What's your specific issue? Everyone else seems to manage it? If it's logistics, put your stuff into storage for a short while even if overnight in the removal van.0
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