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Stamp Duty Cut
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Ah well, it's £1000 I don't have to pay out next week (assuming we complete on my £175k purchase). Every little helps, and it'll go towards some stuff for the new house, now.0
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Can somebody please help me figure out if we are eligible for anything from this stamp duty cut, I'm assuming no but just want to confirm.
We are doing a buy to let, renting out our current home and purchasing a new residential property which we will move into. The new purchase price is £615,000.
Thank you!0 -
Twins said:Can somebody please help me figure out if we are eligible for anything from this stamp duty cut, I'm assuming no but just want to confirm.
We are doing a buy to let, renting out our current home and purchasing a new residential property which we will move into. The new purchase price is £615,000.
Thank you!
Should be paying £36,700 ?0 -
Twins said:Can somebody please help me figure out if we are eligible for anything from this stamp duty cut, I'm assuming no but just want to confirm.
We are doing a buy to let, renting out our current home and purchasing a new residential property which we will move into. The new purchase price is £615,000.
Thank you!0 -
Jinglish said:TonyMMM said:New rates on the gov website ...the 2% band has gone.
https://www.gov.uk/stamp-duty-land-tax/residential-property-rates
Are you buying two properties then? The max saving is £2500.
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anselld said:Jinglish said:TonyMMM said:New rates on the gov website ...the 2% band has gone.
https://www.gov.uk/stamp-duty-land-tax/residential-property-rates
Are you buying two properties then? The max saving is £2500.
My mistake below calculator not updated
https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro0 -
The calculator on the government site hasn't been updated yet ...check your figures - the max saving should be £2,5000
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If first time buyer it is £8800 as per calculator.0
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I justed released the calculator has not been updated and put yes to not owned a property before
Still £2,500 aint bad0 -
Jinglish said:anselld said:Jinglish said:TonyMMM said:New rates on the gov website ...the 2% band has gone.
https://www.gov.uk/stamp-duty-land-tax/residential-property-rates
Are you buying two properties then? The max saving is £2500.
Use this link: https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro
You should be paying £11,300 stamp duty on your purchase - nothing on the first £250,000, and then 5% on the remaining £226,000 (=£11,300).
(Did you by any chance just subtract £125,000 from your purchase price and put that number in the calculator? Because that's not how that works.)0
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