Stamp Duty - Autumn Statement

morwok

pawlala wrote: »

I hope you didn't take my comments negatively, just subjectively. I gave you one thought for yourself and one for your vendor. I'm in a similar position to you, and am relaxed about the issue. With the Tories what will be will be. Good luck

Thanks sorry just had a very stressful sale so far.

booksurr wrote: »

not wrong, it is precisely what i said, the change was based on the date you had exchanged

as for negativity, you are asking people to second guess and you have no idea whatsoever who these people are or how informed are their guesses, so basing a life decision on such ramblings is ill judged.

No the tax is based on the actual completion it would not make sense otherwise.

For the second time I just asked for thoughts I am going to make my own mind up no harm in asking others what they might do

davidmcn

morwok wrote: »

No the tax is based on the actual completion it would not make sense otherwise.

No, I think you've just misunderstood what booksurr said (which is the same point I made above) - while the general rule is that the completion date is the relevant date, if you exchange any time before the Autumn Statement, you will still be able to use today's rules for the SDLT when your completion happens.

booksurr

morwok wrote: »

We are due to complete around the 23rd and want to delay till after this just in case. Our buying price is about 500k and would kick myself if it was reduced? Cheers.

morwok wrote: »

No the tax is based on the actual completion it would not make sense otherwise.

that is true, but is not the question you asked.... in answer to your actual question regarding your liability if a change takes place, the answer is your liability is based on the date you exchange, not the date you complete

the word liability means when you are liable for the tax at whatever that tax rate is at that date, it is not the same as how much you have to pay.

As we have repeatedly said, recent history shows changes are based on exchange dates, not completion dates, for the very simple reason that once you have exchanged you are committed to going through with the contract so it is unfair if the tax change penalises you in the meantime when it is too late to back out.

I will try one last time to show you the answer to your question ... if you delay completion it will not have any affect since the tax change rules will be based on your exchange date and if they follow the same pattern as before you will have to option to either use the old or the new rates based on the date you exchanged, not the date you completed