Old stamp duty?

Adly812

I've used the old stamp duty calculator for 2014. It says I pay £1500 fee in stamp duty for the property price of £155000. Is this correct?
How come it's more in 2014 than it is now , when stamp duty has gone up???

2. If you paid in July 2014 can you reclaim any difference in fees for the cheaper price?

AnotherJoe

Mostly because in the old system it wasn't gradual, buy at 1p over the limit and you paid on the whole amount, now you'd pay it just on the 1p. ISTR it's actually lower for houses under about a million or so.

And no you can't,:rotfl::rotfl::rotfl:

Adly812

I paid £1500 in July 2014 for a property of £155000

Now if I type into the stamp duty calculator for today's rate it says £600 on a price of £155000.

So my question is how come today's rate is lower? When stamp duty % has risen?

Adly812

Thanks anotherJoe . So it was the whole amount in 2014 hence why I paid a lot more.. So I guess, you can't reclaim back? That's so irritating considering you can claim 3 years back if you overpay the higher stamp duty rate on 2nd homes... But you can't reclaim the higher stamp duty I paid in 2014?

AnotherJoe

LOL no. You are comparing chalk and cheese.think about the differences.

Pixie5740

Indeed, you're comparing apples with oranges. You paid the correct amount of SDLT for the tax rules at the time. You can't retrospectively apply current legislation, imagine if it went the other way and current legislation meant you'd have to pay more today so HMRC respectively applied the new rules and asked you to cough up more money.

Besides the refund of the additional SDLT isn't as straightforward as you're making out. People can only claim a refund if they are buying a new main and sell the old/current main residence within 3 years.