Stamp Duty Holiday - Back Dated?

jaxkesa

I missed out on the FtB exemption in 2016. I'm happy to join anyone else who wants to start a petition to backdate it to then?

SpiderLegs

No I’m sorry it really needs to be April 2014 as that is when the first Covid infected pangolin was born.

and come to think of it it can’t end in March either as that won’t be fair either for some made up reason boo hoo hoo 

jon81uk

If the tax rate had gone up, would you be calling HMRC offering to pay them extra? Then unfortunately it applies the other way round too.

foxy-stoat

Win some lose some.

JC88

Surely should be backdated to anyone who was affected or whose house move was delayed as a result of lockdown. Mine was delayed 3 months and with that my mortgage monthly payments went into variable interest and cost me more. To then try to complete as soon as possible after restrictions were eased and then for this holiday to come through afterwards feels like a kick in the teeth in honesty. 

Jessieh

shinryu744 said:

moneysavinghero said:

Stamp duty changes are designed to encourage people to buy. You did not need any encouragement, so why would they want to backdate it for you? I bought my last house 10 years ago, can it be backdated to then too?

I recently completed, exchanged contracts and even had to change the mortgage to just myself because the other person was furloughed. I had to pay out 9500 that I can really use right now. And you can lose your whole deposit and worst if you pull out of a property after exchanging contracts. It should be back dated to a couple months. But I agree with you, they won't. 

I also completed two weeks ago and am quite annoyed by how the government did this. There was barely any news about this from a reliable source few weeks back, otherwise I would have held on the transaction. It just doesn't seem fair to people who were already helping the economy to go as usual, not to mention the £10K stamp duty tax I paid was already post income tax.

Jessieh

jon81uk said:

If the tax rate had gone up, would you be calling HMRC offering to pay them extra? Then unfortunately it applies the other way round too.

They would have announced the tax rate increase much in advance so people had time to plan in advance and decide what they wanted to do.

TWIGLET1234

JC88 said:

Surely should be backdated to anyone who was affected or whose house move was delayed as a result of lockdown. Mine was delayed 3 months and with that my mortgage monthly payments went into variable interest and cost me more. To then try to complete as soon as possible after restrictions were eased and then for this holiday to come through afterwards feels like a kick in the teeth in honesty. 

Apart from the fact that it's been introduced to keep the market buoyant rather than to compensate anyone affected

davelakes

Just our luck we had to move before the Start of July we’ll that’s £10k to the government that I would have really would not liked to have paid. 

JC88

TWIGLET1234 said:

JC88 said:

Surely should be backdated to anyone who was affected or whose house move was delayed as a result of lockdown. Mine was delayed 3 months and with that my mortgage monthly payments went into variable interest and cost me more. To then try to complete as soon as possible after restrictions were eased and then for this holiday to come through afterwards feels like a kick in the teeth in honesty. 

Apart from the fact that it's been introduced to keep the market buoyant rather than to compensate anyone affected

Understandable. But the end result of a delayed transaction is the same as encouraging a new one. Im sure if anyone else was in a position where their house move was delayed from lockdown and they fell into the 4 weeks or so where their transaction cost thousands in stamp duty - they’d feel equally annoyed and frustrated.