Stamp Duty Loophole?

Ian_Griffiths_Halifax

JasonLVC wrote: »

STOP THE PRESSES!!.

I've got my numbers wrong - my apologies. Anything upto and including £250,000 is at the 1%. Anything over £250,000 is at the next rate.

Therefore, £250,000.01p is technically OVER £250,000 and therefore the original idea of 50p takes you into the higher bracket.

Have a look here at the HMRC's own calculator :-

http://sdcalculator.inlandrevenue.gov.uk/SDProperty.aspx

So at least it is a qualfied and confirmed answer!.

Sorry but that's just a calculator. An Excel Spreadsheet could have produced that result!

I would want written proof from the rule books. That programme could have been done by a 10 year old!

JasonLVC

Ian,

You asked a question, I've answered it. You've asked for evidence, I've given it to you. Now you are doubting a formal calculator? The evidence is quite clear - you just refuse to understand the concept of what 'between' means. The rule books state "upto and including £250,000" thus £250,000.01 is not in that range and so goes into the next range.

If that ain't enough then good luck in selling/buying property and avoiding SD on the basis you sold it for 0.01p 'between' a threshold!.

I've just seen your signature - you're a mortgage advisor!. My god, are you qualfiied in any way?. Do you actually advise people to avoid SD like this?. Do you suggest clients lower the house value and then sell £25k of 'fixtures and fittings' to avoid SD too (caught under anti-avoidance rules now)?

Sorry but some people just aren't grateful for free and helpful advice. Next time, spend some time on google - and if you don't believe what the government or other websites are saying then there's clearly no pleasing you.

mystic_trev

:rotfl: It must be Friday :rotfl:

Ian_Griffiths_Halifax

JasonLVC wrote: »

Ian,

You asked a question, I've answered it. You've asked for evidence, I've given it to you. I've tried to explain the nuances between rounding up/down. The evidence is quite clear - you just don't understand the concept of what 'range' or 'between' means.

If that ain't enough then perhaps all my experience as a qualified tax accountant was for nothing and if the link I've given you isn't enough evidence then good luck in selling/buying property and avoiding SD on the basis you sold it for 0.01p between a threshold!. Like the government would never have thought of that one.

I've just seen your signature - you're a mortgage advisor!. My god, are you qualfiied in any way?. Do you actually advise people to avoid SD like this?. Do you suggest clients lower the house value and then sell £25k of 'fixtures and fittings' to avoid SD too (caught under anti-avoidance rules now)?

God, some people just aren't grateful for free and helpful advice.

I suggest you take a chill pill and read the thread again :rolleyes:

Ian_Griffiths_Halifax

mystic_trev wrote: »

:rotfl: It must be Friday :rotfl:

I love that signature :rotfl:

JasonLVC

Ian_Griffiths_Halifax wrote: »

I suggest you take a chill pill and read the thread again :rolleyes:

Why, what did I miss?.

I know your first post said this is just for fun, I get that. I've answered your question and instead of cheers or whatever, you question both the advice and the links I've provided.

What do you want?. For me to say you've sussed a huge loophole in tax law?. Perhaps if you visit the proper SD website rather than the useless DirectGov one :-

http://www.hmrc.gov.uk/so/rates/

you'll see the "evidence" you so need to see.

I don't need a chill pill, but could do without the helpful advice being mocked - smiley or no smiley.

JasonLVC

mystic_trev wrote: »

:rotfl: It must be Friday :rotfl:

Yes it's Friday but what difference does that make?.

I spend a great deal of time to answer folks questions on here, especially those that relate to taxation/finance and try to provide links and simple expanations for those that are struggling.

I do this in the MSE spirit of helping other members. I don't appreciate going around in a big circle - whether the thread is a jokey one or not.

Ian_Griffiths_Halifax

JasonLVC wrote: »

Why, what did I miss?.

I know your first post said this is just for fun, I get that. I've answered your question and instead of cheers or whatever, you question both the advice and the links I've provided.

What do you want?. For me to say you've sussed a huge loophole in tax law?. Perhaps if you visit the proper SD website rather than the useless DirectGov one :-

http://www.hmrc.gov.uk/so/rates/

you'll see the "evidence" you so need to see.

I don't need a chill pill, but could do without the helpful advice being mocked - smiley or no smiley.

Why didn't you post that link in the first place?

JasonLVC

Ian_Griffiths_Halifax wrote: »

Why didn't you post that link in the first place?

Because I didn't realise I had to provide you with 'hard' evidence to confirm something that anyone in the property business should already know - the idea of the calculator was to show you that if the HMRC official calculator comes up with the answer then it must be right.

If you Google "Stamp Duty" the second/third entry on the list is the HMRC website link (the first link is the DirectGov one - so you didn't research it that much, just stopped at the first link - which is misleading anyway, out of date and not the official HMRC website).

Read through the thread again - I'm just trying to be helpful and you're posts aren't.

Ian_Griffiths_Halifax

Actually I searched Stamp Duty Thresholds and it comes up with different web site returns.

Don't take offence. If you had said you were an Accountant before going off on one it would have helped.