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SDLT Increase
Comments
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michael1234 said:sammyjammy said:In some ways the OPs reaction is what the government is hoping for, either more money in SDLT for the countries coffers or another house for a person to live in rather than have as a second home.0
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ReadySteadyPop said:michael1234 said:sammyjammy said:In some ways the OPs reaction is what the government is hoping for, either more money in SDLT for the countries coffers or another house for a person to live in rather than have as a second home.0
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OP, how can you be liable for £30k SDLT on a £355k purchase? Doesn't add up. 5% on anything over £250k, plus 5% on the total purchase as it's a second property only comes to about £23k. Unless I'm missing something?0
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If the £355k additional property purchase had exchanged yesterday, the calculator tells me £15,900
From today, £23k is spot on.🎉 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 = £102,500.00SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her0 -
Bigphil1474 said:OP, how can you be liable for £30k SDLT on a £355k purchase? Doesn't add up. 5% on anything over £250k, plus 5% on the total purchase as it's a second property only comes to about £23k. Unless I'm missing something?0
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For anyone considering that the seller should meet the extra cost, what if the tax supplement had been scrapped? Would you have gone back to the vendor with a higher offer?Signature on holiday for two weeks0
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Mutton_Geoff said:For anyone considering that the seller should meet the extra cost, what if the tax supplement had been scrapped? Would you have gone back to the vendor with a higher offer?0
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Mutton_Geoff said:For anyone considering that the seller should meet the extra cost, what if the tax supplement had been scrapped? Would you have gone back to the vendor with a higher offer?
a) FTB went looking for more expensive houses than they would otherwise have done
b) the majority of the tax reduction was absorbed into higher prices
Evaluating the impact of Stamp Duty Land Tax First Time Buyers' Relief0 -
SDLT_Geek said:KiwiCoop said:It could be worse. You could have bought a second house at auction yesterday - no get-out for me!
In fact exchanging contracts today can work for the transitional provisions.1
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