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SDLT1 form
stament
Posts: 2 Newbie
My friend needs help on the above form and is a bit confused by 2 questions, 4+6
Q4 refers to the completed transaction date and Q6 refers to the contract date.
Presumably the contract date is the actual date of the contract and the completed transaction date refers to the date when the exchange is complete and transfer of ownership takes place which is normally 2 weeks after exchange I understand.
Grateful if someone could confirm this and also when is the stamp duty due?
Much appreciated
Q4 refers to the completed transaction date and Q6 refers to the contract date.
Presumably the contract date is the actual date of the contract and the completed transaction date refers to the date when the exchange is complete and transfer of ownership takes place which is normally 2 weeks after exchange I understand.
Grateful if someone could confirm this and also when is the stamp duty due?
Much appreciated
0
Comments
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Tell your friend to ask their solicitor?0
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your understanding of exchange and completion is wrong. Get a solicitor to do the form.1
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If your friend is trying to save some money by not paying the solicitor his fee for completing the form on his behalf, it's not worth it. Instruct the solicitor to do it and pay their fee.1
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If neither your friend nor you has a clue about the basics of the transaction, I'm not sure how they're going to cope with the remainder of the return. I would recommend they consult a professional.1
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stament said:My friend needs help on the above form and is a bit confused by 2 questions, 4+6
Q4 refers to the completed transaction date and Q6 refers to the contract date.
Presumably the contract date is the actual date of the contract and the completed transaction date refers to the date when the exchange is complete and transfer of ownership takes place which is normally 2 weeks after exchange I understand.No.Q4 refers to the date Completion took place, hence "completed transaction date".Q6 refers to the date Exchange of Contracts took place (which may or may not have been the same date, or may have been earlier), hence "the contract date".If you/your friend do not understand the difference, he/she has embarked on a multi-hundred-thousand-pound transaction prematurely. There are many goodbookson the subject eg
1
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