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Stamp Duty Delay Advice Please
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gapdunlop
Posts: 21 Forumite
Hi Guys
I am to complete this thursday.I am a few £k short and can sell my shares tomorrow to cover it. Unfortuantelt then the cash wont hit my account till next monday.This is to pay the stamp duty. Do I HAVE to pay the stamp duty when I complete or can I delay it for a few days?
Much appreciated
THANKS
Al
I am to complete this thursday.I am a few £k short and can sell my shares tomorrow to cover it. Unfortuantelt then the cash wont hit my account till next monday.This is to pay the stamp duty. Do I HAVE to pay the stamp duty when I complete or can I delay it for a few days?
Much appreciated
THANKS
Al
0
Comments
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I'm pretty sure you have 28 days within which to cough up.Everything that is supposed to be in heaven is already here on earth.
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If you are getting a mortgage your solicitors will be entitled to refuse to complete without the money. This is because it is a condition of nearly all sets of mortgage instructions from lenders to solicitors that it is up to the solicitor to make sure he has money to cover the SDLT if he uses the lender's advance money. So your solicitor could say that he is not prepared to take the risk that your money might not arrive. If you never gave him the money he would be stuck with finding the money himself for SDLT in order to secure registration of the lender's mortgage, which cannot be done without payment of the tax.RICHARD WEBSTER
As a retired conveyancing solicitor I believe the information given in the post to be useful assuming any properties concerned are in England/Wales but I accept no liability for it.0
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