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stamp duty
robint_2
Posts: 38 Forumite
We are buying a property for 133500 hoping for completion in march.Would it be beneficial to wait until after the Budget in case stamp duty is raised.If so are they implemented straight away.Thank you for your help.
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Comments
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Usually the changes are implemented more or less immediately but I wouldn't bank on the Chancellor touching SDLT - it hasn't been changed much in recent years.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 -
Any suggestions (legal obviously:rolleyes: ) of how to cut my stamp duty bill on a £310k house purchase?
Many thanks0 -
I think the general 'rule' with the chancellors changes are any changes that will charge us more ie tax on petrol,cigs are implemented straight away. Any changes that will save us money, ie tax thresholds raised etc, will be brought in several months or more later.
I wouldn't delay your house sale if I were you.:j Trytryagain FLYLADY - SAYE £700 each month Premium Bonds £713 Mortgage Was £100,000@20/6/08 now zilch 21/4/15:beer: WTL - 52 (I'll do it 4 MUM)0 -
The last time stamp duty changed in 2006, the change came into effect the following day as you can see from this news story http://news.bbc.co.uk/1/hi/business/4833880.stm so certainly not worth delaying as if there is any change it would still benefit you.
Amanda0 -
Has there been any suggestion that stamp duty thresholds are likely to rise? I would have thought it possible, and sensible, given that to avert a housing market downturn the government needs to attract more first time buyers, who will be looking at properties at around the threshold (and the fact that the Tories have proposed changes to stamp duties). However, if there were going to be changes I would have expected them to be flagged by now.0
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I've read a few things saying that they thought the stamp duty threshold will rise to £150,000. If it does change, I'm hoping we can still take advantage of it. We have already exchanged and are waiting for a completion date - probably April time.
If any stamp duty changes are made, will it be effective on people who have already exchanged but not completed, or are we now legally liable to pay the current stamp duty rate.0 -
I've read a few things saying that they thought the stamp duty threshold will rise to £150,000. If it does change, I'm hoping we can still take advantage of it. We have already exchanged and are waiting for a completion date - probably April time.
If any stamp duty changes are made, will it be effective on people who have already exchanged but not completed, or are we now legally liable to pay the current stamp duty rate.
You would still benefit from the change as the stamp duty is calculated at the point of completion based on the rate in force at the time of completion.0
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