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Mmamunn
Posts: 6 Forumite
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I am in the process of buying my first property but I am purchasing on a buy to let as I am not ready to move in yet. I have never owned a property before. The price I am paying is £295000.
Under the pre 8th July stamp duty rates the stamp duty worked out to be £4750 but not now it looks like I will have to pay more.
I am hoping someone will tell me i’m wrong. If not then this is just so typical of the conservative government.
Under the pre 8th July stamp duty rates the stamp duty worked out to be £4750 but not now it looks like I will have to pay more.
I am hoping someone will tell me i’m wrong. If not then this is just so typical of the conservative government.
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Comments
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Mmamunn said:I am hoping someone will tell me i’m wrong. If not then this is just so typical of the conservative government.
SDLT calculator is here (which takes account of yesterday's changes):
https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro
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Good job Labour wernt in charge then.1
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Mmamunn said:I am hoping someone will tell me i’m wrong. If not then this is just so typical of the conservative government.Yes, you are wrong, everyone buying from 8th July will pay less stamp duty.So the conservative government has done you a massive favour and most sane, rational people are just thankful that the Great British Public told Corbyn and the Labour party what little they thought of them in the last election; I shudder at how much worse things would be had Labour been in charge these last few months.Every generation blames the one before...
Mike + The Mechanics - The Living Years1 -
MobileSaver said:Mmamunn said:I am hoping someone will tell me i’m wrong. If not then this is just so typical of the conservative government.Yes, you are wrong, everyone buying from 8th July will pay less stamp duty.So the conservative government has done you a massive favour and most sane, rational people are just thankful that the Great British Public told Corbyn and the Labour party what little they thought of them in the last election; I shudder at how much worse things would be had Labour been in charge these last few months.1
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As someone who hasn’t owned a property before and purchasing a buy to let i would’ve had to pay the home movers rate, correct?
Price £295k
0% up to £125k, 2% between £125k - £250k and 5% anything over £250k equals £4750
Now i have to pay 3% on the total price of the property which comes to £8850
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Mmamunn said:Now i have to pay 3% on the total price of the property which comes to £8850
Every generation blames the one before...
Mike + The Mechanics - The Living Years0 -
I’ve just completed on a property of 525k not my first home and paid 32k stamp duty. This hasn’t been paid by solicitor yet so would I qualify for new rule announced by chancellor? It’s a pain as I brought completion date forward to suit the vendor. Thanks0
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praduman said:I’ve just completed on a property of 525k not my first home and paid 32k stamp duty. This hasn’t been paid by solicitor yet so would I qualify for new rule announced by chancellor?0
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MobileSaver said:I shudder at how much worse things would be had Labour been in charge these last few months.
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