Stamp Duty - First Time Buyers

Staceyjcooknell

Hi

I am a first time buyer and our completion date is the 24th of November.
We have already paid our solicitor for the stamp duty
If they stop stamp duty for first time buyers on the 22nd of November, will we be entitled to getting our stamp duty back?

Unsure if the stamp duty is paid before or on completion.

Sorry for a stupid question

Just looking for any advice?

Many Thanks

Stacey

00ec25

how do you seriously expect anyone on here to know?

as the saying goes: "past performance is not a guide to the future"

if "it" is being said it is being stopped then what does "it" say in answer to your question since your source must have addressed that logical extension to your question

aneary

The budget is coming out on 22nd November if stamp duty is reduced or stopped for first time buyers this is unlikely to come into force on 22nd November.

bowlhead99

Staceyjcooknell wrote: »

It is being said that they are stopping stamp duty for first time buyers on the 22nd of November.

It isn't being said that they are doing that.

It is being speculated that a whole range of different things could or might happen which some people think might be desirable and others thing might not be.

First time buyers' stamp duty bills range between £0 and over £200k depending on the price of the first property they buy. There would inevitably be a limit somewhere, even if the SPECULATION came to pass.

If this is the case will we be entitled to getting our stamp duty back?

If the law is changed and has effect for your specific personal circumstances and for transactions completed on 24 November.

Good luck with that.

googler

Staceyjcooknell wrote: »

Hi

I am a first time buyer and our completion date is the 24th of November.
It is being said that they are stopping stamp duty for first time buyers on the 22nd of November. If this is the case will we be entitled to getting our stamp duty back?

If it is stopped, there will be an implementation date.

If you complete before this date, your stamp duty will be payable. If you complete after, it will not.

The implementation date may be the date of announcement, but most likely not.

goodwithsaving

Staceyjcooknell wrote: »

Sorry, I thought this was a place I could ask a question.

If you're going to be rude please don't reply.

I was only looking for some advice.

And if you're going to be arsesy to replies on a public forum, don't post.

I'm under 30. I hope they don't remove SDLT for first time buyers. I saved so hard when I was buying my first place, and with subsequent moves. If it goes to sellers to pay, I suspect that will stagnate the market further.

Don't base such a big decision on speculation. I'm hoping to complete at some point (if I ever get there) and personally, if I lose a few k on a house worth £250,000, so be it. At least I get a house that will be my home for the next x number of years.

kingstreet

Staceyjcooknell wrote: »

I am a first time buyer and our completion date is the 24th of November.

It is being said that they are stopping stamp duty for first time buyers on the 22nd of November. If this is the case will we be entitled to getting our stamp duty back?

No. You won't pay it in the first place.

G_M

Staceyjcooknell wrote: »

... our completion date is the 24th of November.
It is being said that they are stopping stamp duty for first time buyers on the 22nd of November. If this is the case will we be entitled to getting our stamp duty back?

Why would you get back something you have not been required to pay.

But as others have pointed out, tere are so many 'if's in your question that it is pointless asking here.

Direct your question to the Chancellor.

Staceyjcooknell

Okay, sorry for the ifs, someone at work advised me to ask this question.

Does anyone know how I delete this post?

Thanks

hazyjo

Staceyjcooknell wrote: »

Okay, sorry for the ifs, someone at work advised me to ask this question.

Does anyone know how I delete this post?

Thanks

It's considered bad form to delete posts - someone else may come along with the same question. Just leave it, it'll drop off the board sooner or later

juniordoc

I am not completing until 1st Dec but won't be transferring any money to our solicitor for stamp duty until after 22nd Nov, just in case. Keeping my fingers crossed for a SDLT holiday for first time buyers!!!