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Stamp Duty Land Tax and solicitors bills - payment options
Starlight_at_Sea
Posts: 325 Forumite
Hi, Thanks in advance for responses.
I am calculating the maximum offer I can put in on a property, and wanted to know the payment methods that solicitors usually accept for payment of their fees, and for SDLT (which as I understand it, is usually paid through the solicitors - please correct me if wrong!)
Is it possible to pay these bills by credit card, or do I need cash available to bank transfer?
I am calculating the maximum offer I can put in on a property, and wanted to know the payment methods that solicitors usually accept for payment of their fees, and for SDLT (which as I understand it, is usually paid through the solicitors - please correct me if wrong!)
Is it possible to pay these bills by credit card, or do I need cash available to bank transfer?
0
Comments
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No. Bank transfer or CHAPS Few solicitors will take credit cards.
You'll need the total amount transferred to the S before Completion. Without it the S won't Complete.
Only alternative might be if there's no mortgage and you agree with the S that you'll pay the SDLT, then you won't need to transfer that tothe S. Instead you'll have 14 (I hink) days to pay HMRC yourself.1 -
I would say a fair number do (at least for their fees, perhaps not for SDLT), but in any event I wouldn't assume so. The best way of finding out is to ask your solicitor!propertyrental said:No. Bank transfer or CHAPS Few solicitors will take credit cards.1 -
Yes to 14 days to pay SDLT from date of completion. It's calendar days though, NOT working days, just for absolute clarity.
OP - if you are genuinely thinking of "needing" to put the SDLT on a credit card, I'd suggest lowering the price bracket you are looking in a little, or alternatively leaving yourself more time to save up all the associated costs.🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
£100k barrier broken 1/4/25
Balance as at 31/08/25 = £ 95,450.00. Balance as at 31/12/25 = £ 91,100.00
SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her2 -
I was able to put money on account with our solicitor (so to go towards their fees and any other costs) via an online payment on their website by credit card - it was a maximum payment of £2,500 though.
I imagine each solicitor will be different though.1 -
Very helpful responses, thank you, you've confirmed what I thought might be the case. I've potentially got a relatively minor cash flow timing complication to take into account, depending on when we complete in a quarter, plus a relatively large initial SDLT as we will likely have two homes for a while, so I just wanted to be very clear about options before committing.1
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