Stamp Duty Holiday - Back Dated?

davidmcn

lauracassandracrombie said:
Worth a go!

Not really!

jaxkesa

lauracassandracrombie said:

Hi all,
I'm out of pocket £15k for completing on the 1st. There's a petition on Parliament UK - search 'Abolish stamp duty' and click on the one that's linked to coronavirus. Also, write to your MP. If the petition gets to 10k signatures they have to respond.
Worth a go!

Complete waste of time. Better to be thankful and appreciative that you have moved into your new home rather than plead for more money from the taxpayer.

random321

It's frustrating if you have just missed the cut off date, yes. We saved hard to buy our first house in 2014 before any first time buyer SD exemption or LISA's existed to boost deposit savings. We also completed on our current home in March 2020 just before lock down (which we felt and still do feel very lucky about) and cost us £8k in SD. We just think ourselves fortunate in the fact that we were able to get on the housing ladder and subsequently move on to our next home as a family. As others have said, any purchases would have been made with the stamp duty expecting to be paid so this would have been budgeted for. Of course any reduction in this would have been a nice bonus which others will now benefit from, but hopefully this will keep the housing market stable and stop a sharp reduction in the value of any homes already purchased. 

Marvel1

lauracassandracrombie said:

Hi all,
I'm out of pocket £15k for completing on the 1st. There's a petition on Parliament UK - search 'Abolish stamp duty' and click on the one that's linked to coronavirus. Also, write to your MP. If the petition gets to 10k signatures they have to respond.
Worth a go!

The other poster won't answer.

Backdated to what date?

eve824

I wish! We completed 22nd Nov 2019 - do you think they would backdate that far? The £15k would be great especially as we've just bought a new car!!
Hindsight is a wonderful thing.
I have thought for a while now that they should either abolish SDLT or have it on an incremental basis, ie you only pay it on the uplift between your current house and new house. Current system essentially makes you pay tax twice.

blue_max_3

The whole system is flawed, but generally works. It's a slight brake on house prices, but favours the cheaper properties. There are penalties for speculators and foreign nationals. If it's removed, prices will surely rise. The free market finds its level.

jon81uk

eve824 said:

I wish! We completed 22nd Nov 2019 - do you think they would backdate that far? The £15k would be great especially as we've just bought a new car!!
Hindsight is a wonderful thing.
I have thought for a while now that they should either abolish SDLT or have it on an incremental basis, ie you only pay it on the uplift between your current house and new house. Current system essentially makes you pay tax twice.

Yep, I don't agree on backdating, but I do agree that SDLT is an awful tax that doesn't seem to do anything to help house prices. It should be abolished, or as you say changed to the increase in price, or even just the change in equity as the price increases (ie charge it on the sale of a property, not the purchase).