Stamp Duty Ending

davidmcn

Seashell517 said:

macman said:

The SDLT holiday has to end at some point. Whether it's 31/3/21, or later, there will still be some people who just miss the date and are disgruntled. The end March cut-off has been known about for many months now, so it's not as if people haven't had adequate warning.

Keeping my fingers crossed for it be phased out (anyone with a chain formed before date of announcement can complete without paying SDLT for example) 

Not a chance. That's far too nebulous a concept to be turned into tax legislation - a "chain" is just a bunch of people crossing their fingers.

Crashy_Time

Exactly, but could they extend it and tax property another way?

Seashell517

davidmcn said:

Seashell517 said:

macman said:

The SDLT holiday has to end at some point. Whether it's 31/3/21, or later, there will still be some people who just miss the date and are disgruntled. The end March cut-off has been known about for many months now, so it's not as if people haven't had adequate warning.

Keeping my fingers crossed for it be phased out (anyone with a chain formed before date of announcement can complete without paying SDLT for example) 

Not a chance. That's far too nebulous a concept to be turned into tax legislation - a "chain" is just a bunch of people crossing their fingers.

I've seen it suggested in the property press. Using memo of sale dates to confirm what does or doesn't get included.

K_S

FWIW (very little), I think it'll be extended.

It's probably more hope than anything, coupled with a bit of faith in the influence that the property industry has in the Tory party. If it doesn't get extended, some of my pipeline mortgages in the south will fall through as a direct result and some more due to the indirect impact of chains breaking.

Slithery

Seashell517 said:

davidmcn said:

Seashell517 said:

macman said:

The SDLT holiday has to end at some point. Whether it's 31/3/21, or later, there will still be some people who just miss the date and are disgruntled. The end March cut-off has been known about for many months now, so it's not as if people haven't had adequate warning.

Keeping my fingers crossed for it be phased out (anyone with a chain formed before date of announcement can complete without paying SDLT for example) 

Not a chance. That's far too nebulous a concept to be turned into tax legislation - a "chain" is just a bunch of people crossing their fingers.

I've seen it suggested in the property press. Using memo of sale dates to confirm what does or doesn't get included.

That isn't an official document. It can easily be forged by any halfwit with a printer.

Angela_D_3

Slithery said:

Seashell517 said:

davidmcn said:

Seashell517 said:

macman said:

The SDLT holiday has to end at some point. Whether it's 31/3/21, or later, there will still be some people who just miss the date and are disgruntled. The end March cut-off has been known about for many months now, so it's not as if people haven't had adequate warning.

Keeping my fingers crossed for it be phased out (anyone with a chain formed before date of announcement can complete without paying SDLT for example) 

Not a chance. That's far too nebulous a concept to be turned into tax legislation - a "chain" is just a bunch of people crossing their fingers.

I've seen it suggested in the property press. Using memo of sale dates to confirm what does or doesn't get included.

That isn't an official document. It can easily be forged by any halfwit with a printer.

Emailed time and date stamped MOS then.  Although tbf most things can be forged if you put your mind to it 

Seashell517

Slithery said:

Seashell517 said:

davidmcn said:

Seashell517 said:

macman said:

The SDLT holiday has to end at some point. Whether it's 31/3/21, or later, there will still be some people who just miss the date and are disgruntled. The end March cut-off has been known about for many months now, so it's not as if people haven't had adequate warning.

Keeping my fingers crossed for it be phased out (anyone with a chain formed before date of announcement can complete without paying SDLT for example) 

Not a chance. That's far too nebulous a concept to be turned into tax legislation - a "chain" is just a bunch of people crossing their fingers.

I've seen it suggested in the property press. Using memo of sale dates to confirm what does or doesn't get included.

That isn't an official document. It can easily be forged by any halfwit with a printer.

If conveyancers/solicitors are trusted to do anti-money laundering checks, then I think they'd be considered trusted sources for verifying what date a memo of sale was sent? Anyway, it's just something that I've seen suggested as a way of phasing the SDLT holiday out so that everyone isn't trying to complete in the last week of March.

caprikid1

"If you don`t have the stamp duty available without borrowing it a bank isn`t going to view you as a particularly safe borrower IMO."
Good heavens, Medium , Economist and now underwriter. Crashy your talents are absolutely endless. Especially considering you have no idea of their income, LTV and monies reserved for renovations.

MobileSaver

Crashy_Time said:

I can see sellers having to pay this tax eventually.

If sellers end up having to pay SDLT do you think that will lead to lower or higher house prices?

allIcouldwishfor

I would imagine the only scenario under which there will be an extension, is if the lockdown goes further to bring the housing market to a grinding halt as it did during lockdown 1.0