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Stamp Duty
siamese1
Posts: 6 Forumite
Anyone advise ,
What is the current threshold for stamp duty. My wife and I are buying a house for £135,950 - I was under the impression that stamp duty had been raised recently; but to what level I dont know .
Many thanks
Siamese1
What is the current threshold for stamp duty. My wife and I are buying a house for £135,950 - I was under the impression that stamp duty had been raised recently; but to what level I dont know .
Many thanks
Siamese1
0
Comments
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£120k in most area up from £60k
then you have special exempt areas (check IR website) which were and remain £150k."enough is a feast"...old Buddist proverb0 -
Many thanks to those who have replied - cheers
Siamese10 -
How does stamp duty work if you buy land and build your own house ? For example , if I buy a plot for £70k and spend further £100k building a house do I have to pay stamp duty ?I`m now officially too old to die young0
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The spend on building ain't related to stamp duty. Remember if you self build to keep all your VAT stuff as you are able to claim VAT back on self-builds. I'd get in touch with HM customs & excise to confirm exact formats required, etc.0
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Another question on stamp duty, is it paid by the buyer or does the seller also have to pay some?0
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bridiej wrote:Another question on stamp duty, is it paid by the buyer or does the seller also have to pay some?
Only the buyer pays Stamp Duty - you may see sometimes that a seller will help to contribute to Stamp Duty if they are desperate to sell their home but law states that only the buyer is liable to pay Stamp Duty.0 -
Shrimpers_Joy wrote:Only the buyer pays Stamp Duty - you may see sometimes that a seller will help to contribute to Stamp Duty if they are desperate to sell their home but law states that only the buyer is liable to pay Stamp Duty.
Yes, in effect if a seller contributes, it's similar to an additional discount really. Sort of like the 'NO VAT' car offers... of course they still ACTUALLY charge VAT - but they offer a 17.5% discount.CarQuake / Ergo Digital0 -
Or even a 14.9% discount
. 0
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