Stamp Duty Holiday - Back Dated?

Marvel1

maple33977 said:

I completed at 4.30pm on the 7th July and paid 10k in stamp duty. I understand there has to be a cut off and I am not disputing that but I feel really annoyed that my solicitors didn't mention anything to me that day or on Monday that the holiday was a possibility. Maybe they didn't know but I find that hard to believe having now researched it - it was all over the news as a very strong rumour on Monday (which I had no idea about prior to completing). Is this a negligence of duty on their part?

You didn't hear the rumour yourself but expect others too?

MobileSaver

maple33977 said:

I completed at 4.30pm on the 7th July and paid 10k in stamp duty. ... I feel really annoyed that my solicitors didn't mention anything to me that day or on Monday that the holiday was a possibility.

Did you Exchange and Complete on the same day or had you Exchanged days or weeks earlier?

lesalanos

maple33977 said:

I completed at 4.30pm on the 7th July and paid 10k in stamp duty. I understand there has to be a cut off and I am not disputing that but I feel really annoyed that my solicitors didn't mention anything to me that day or on Monday that the holiday was a possibility. Maybe they didn't know but I find that hard to believe having now researched it - it was all over the news as a very strong rumour on Monday (which I had no idea about prior to completing). Is this a negligence of duty on their part?

No

[Deleted User]

No.

No, it's not.

maple33977

MobileSaver said:

maple33977 said:

I completed at 4.30pm on the 7th July and paid 10k in stamp duty. ... I feel really annoyed that my solicitors didn't mention anything to me that day or on Monday that the holiday was a possibility.

Did you Exchange and Complete on the same day or had you Exchanged days or weeks earlier?

Same day, both on the 7th July.

maple33977

Marvel1 said:

maple33977 said:

I completed at 4.30pm on the 7th July and paid 10k in stamp duty. I understand there has to be a cut off and I am not disputing that but I feel really annoyed that my solicitors didn't mention anything to me that day or on Monday that the holiday was a possibility. Maybe they didn't know but I find that hard to believe having now researched it - it was all over the news as a very strong rumour on Monday (which I had no idea about prior to completing). Is this a negligence of duty on their part?

You didn't hear the rumour yourself but expect others too?

Others whose role is to coordinate all the legal aspects of a property transaction? Yes, I would expect solicitors to be more in the loop of expected changes which would directly impact their professional duties than myself.

jaxkesa

maple33977 said:

Marvel1 said:

maple33977 said:

I completed at 4.30pm on the 7th July and paid 10k in stamp duty. I understand there has to be a cut off and I am not disputing that but I feel really annoyed that my solicitors didn't mention anything to me that day or on Monday that the holiday was a possibility. Maybe they didn't know but I find that hard to believe having now researched it - it was all over the news as a very strong rumour on Monday (which I had no idea about prior to completing). Is this a negligence of duty on their part?

You didn't hear the rumour yourself but expect others too?

Others whose role is to coordinate all the legal aspects of a property transaction? Yes, I would expect solicitors to be more in the loop of expected changes which would directly impact their professional duties than myself.

Maybe you should have instructed and paid them extra for their 'rumour research and reporting' service.

blue_max_3

As someone who is a director of his own company and got nothing at all from the government, I'm likely to benefit from this as hoping to buy.
I have received not one penny from the government, so I know what unfair is. This isn't in my view.

firstTimeBuyerPaidDuty

jaxkesa said:

firstTimeBuyerPaidDuty said:

I was faced with the decision of continuing or pulling out looking at an uncertain market and dropping house prices but decided to go ahead with it anyway.

So you made the decision to go ahead but now you want compensation?

I just don't think it's fair. The 8th of July is an arbitrary date and my solicitor has not paid the stamp duty yet even. The idea is to boost the economy post covid by helping first time buyers. Well I am a first time buyer, completed recently spent my life savings to pay that tax. Yes I made the decision to go ahead it was in an already late stage I had invested time and money in that property that I wasn't going to get back if I pulled out and had to escape my living situation. Had no-one to support me through all this. Have you done this before to know what it costs? Not just in terms of money but mentally as well?

davidmcn

firstTimeBuyerPaidDuty said:

jaxkesa said:

firstTimeBuyerPaidDuty said:

I was faced with the decision of continuing or pulling out looking at an uncertain market and dropping house prices but decided to go ahead with it anyway.

So you made the decision to go ahead but now you want compensation?

The 8th of July is an arbitrary date

It isn't really, it's the date of the Chancellor's announcement. These sorts of changes usually come into effect immediately. Backdating it would means picking an even more arbitrary date.