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Additional Property 3% SDLT refund when paid by seller
sammynwuk
Posts: 2 Newbie
I'm in the process of buying my second property and therefore liable for the additional 3% SDLT. I'm thinking of negotiating with the seller (developer) for them to pay the additional stamp duty.
Will I be able to claim a refund on the additional 3% SDLT it in the future (when i sell my first home) even though it was originally paid by the seller? Couldn't get an answer HMRC without writing a letter to them :roll:
Will I be able to claim a refund on the additional 3% SDLT it in the future (when i sell my first home) even though it was originally paid by the seller? Couldn't get an answer HMRC without writing a letter to them :roll:
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Comments
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HMRC will consider it payable by the buyer. If the seller pays you an allowance, then it will be your contract with the seller that governs whether you are contractually liable to pay it back to them if you get it refunded. HMRC wouldnt contact the seller. Its unlikely the seller would ever know, and they will do the deal with you on the assumption that they won't get it back in any event.0
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I'm in the process of buying my second property and therefore liable for the additional 3% SDLT. I'm thinking of negotiating with the seller (developer) for them to pay the additional stamp duty.
Will I be able to claim a refund on the additional 3% SDLT it in the future (when i sell my first home) even though it was originally paid by the seller? Couldn't get an answer HMRC without writing a letter to them :roll:
You can try and negotiate with the seller, it would just lower the purchase price a bit, the seller can agree or not.
Buyers pay the fee not the seller though.0 -
You're possibly thinking of marketing campaigns that say "We'll pay your stamp duty".
It's a bit of 'advertising puff' - what it often means is they'll pay you a cashback sum (which might happen to be the same as the amount of SDLT you paid).
You can ask for a bigger cashback if you want - an extra 3% - because that happens to be the extra SDLT you're paying.
(But you could equally ask for an extra 3% cashback because you're wearing green socks!)
If you do manage to negotiate a bigger cashback, you'll have to tell your mortgage lender (if you have one), and they might reduce the amount that they'll lend you.0 -
Thanks for the replies which has really clarified it for me! Great to know this forum has so many helpful members
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