New built completion on 29th Sept 2021, would stamp duty holiday applies if paying after 1st Oct?

ileven1225

Hi everyone,

Just get clarification and I think the exemption shall apply.

I am purchasing a new built house and the completion date is 29th Sept 2021. I know that the stamp duty holiday runs out on 30th Sept 2021. However, I do not think the solicitor can be quickly enough to pay for the stamp duty on 30th Sept. If the solicitor pays the stamp duty after 30th Sept, would the exemption of stamp duty still apply?

Thanks

Slithery

It's the completion date that matters.

SDLT_Geek

ileven1225 said:

Hi everyone,

Just get clarification and I think the exemption shall apply.

I am purchasing a new built house and the completion date is 29th Sept 2021. I know that the stamp duty holiday runs out on 30th Sept 2021. However, I do not think the solicitor can be quickly enough to pay for the stamp duty on 30th Sept. If the solicitor pays the stamp duty after 30th Sept, would the exemption of stamp duty still apply?

Thanks

Yes.  There is 14 days to file the return and pay any SDLT.

ileven1225

SDLT_Geek said:

ileven1225 said:

Hi everyone,

Just get clarification and I think the exemption shall apply.

I am purchasing a new built house and the completion date is 29th Sept 2021. I know that the stamp duty holiday runs out on 30th Sept 2021. However, I do not think the solicitor can be quickly enough to pay for the stamp duty on 30th Sept. If the solicitor pays the stamp duty after 30th Sept, would the exemption of stamp duty still apply?

Thanks

Yes.  There is 14 days to file the return and pay any SDLT.

What happens if paying SDLT more than 14 days after the completion? Solicitor is always slow.

user1977

ileven1225 said:

SDLT_Geek said:

ileven1225 said:

Hi everyone,

Just get clarification and I think the exemption shall apply.

I am purchasing a new built house and the completion date is 29th Sept 2021. I know that the stamp duty holiday runs out on 30th Sept 2021. However, I do not think the solicitor can be quickly enough to pay for the stamp duty on 30th Sept. If the solicitor pays the stamp duty after 30th Sept, would the exemption of stamp duty still apply?

Thanks

Yes.  There is 14 days to file the return and pay any SDLT.

What happens if paying SDLT more than 14 days after the completion? Solicitor is always slow.

It's the completion date of the transaction which is relevant. How long you take to pay the SDLT doesn't make a difference to the rate you're paying.

SDLT_Geek

ileven1225 said:

SDLT_Geek said:

ileven1225 said:

Hi everyone,

Just get clarification and I think the exemption shall apply.

I am purchasing a new built house and the completion date is 29th Sept 2021. I know that the stamp duty holiday runs out on 30th Sept 2021. However, I do not think the solicitor can be quickly enough to pay for the stamp duty on 30th Sept. If the solicitor pays the stamp duty after 30th Sept, would the exemption of stamp duty still apply?

Thanks

Yes.  There is 14 days to file the return and pay any SDLT.

What happens if paying SDLT more than 14 days after the completion? Solicitor is always slow.

The tax is the same, but interest is due on late payment.

Slithery

ileven1225 said:

SDLT_Geek said:

ileven1225 said:

Hi everyone,

Just get clarification and I think the exemption shall apply.

I am purchasing a new built house and the completion date is 29th Sept 2021. I know that the stamp duty holiday runs out on 30th Sept 2021. However, I do not think the solicitor can be quickly enough to pay for the stamp duty on 30th Sept. If the solicitor pays the stamp duty after 30th Sept, would the exemption of stamp duty still apply?

Thanks

Yes.  There is 14 days to file the return and pay any SDLT.

What happens if paying SDLT more than 14 days after the completion? Solicitor is always slow.

Then you may get hit with a fine which you simply pass along to your solicitor for not doing their job properly.

ileven1225

Slithery said:

ileven1225 said:

SDLT_Geek said:

ileven1225 said:

Hi everyone,

Just get clarification and I think the exemption shall apply.

I am purchasing a new built house and the completion date is 29th Sept 2021. I know that the stamp duty holiday runs out on 30th Sept 2021. However, I do not think the solicitor can be quickly enough to pay for the stamp duty on 30th Sept. If the solicitor pays the stamp duty after 30th Sept, would the exemption of stamp duty still apply?

Thanks

Yes.  There is 14 days to file the return and pay any SDLT.

What happens if paying SDLT more than 14 days after the completion? Solicitor is always slow.

Then you may get hit with a fine which you simply pass along to your solicitor for not doing their job properly.

solicitor might can always get away from it to be honest, not sure how i can raise complaint to a solicitor.......is there any regulatory body?

user1977

ileven1225 said:

Slithery said:

ileven1225 said:

SDLT_Geek said:

ileven1225 said:

Hi everyone,

Just get clarification and I think the exemption shall apply.

I am purchasing a new built house and the completion date is 29th Sept 2021. I know that the stamp duty holiday runs out on 30th Sept 2021. However, I do not think the solicitor can be quickly enough to pay for the stamp duty on 30th Sept. If the solicitor pays the stamp duty after 30th Sept, would the exemption of stamp duty still apply?

Thanks

Yes.  There is 14 days to file the return and pay any SDLT.

What happens if paying SDLT more than 14 days after the completion? Solicitor is always slow.

Then you may get hit with a fine which you simply pass along to your solicitor for not doing their job properly.

solicitor might can always get away from it to be honest, not sure how i can raise complaint to a solicitor.......is there any regulatory body?

Yes there is, but you seem to be fretting about something which hasn't yet happened, and I've never heard of a solicitor quibbling about paying the interest/penalties for being late in submitting an SDLT return.