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Do you pay stamp duty on buy to let?

zoe19
Posts: 21 Forumite
I am about to purchase a property to let costing £150k. I know that it is below the stamp duty threshold of £250k but does that still apply if I am not a first time buyer and am letting the property? Will I have to pay stamp duty of 1 1/2% on the purchase?
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Comments
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I hope so.. yes you do. what made you think you were exempt?
http://www.hmrc.gov.uk/sdlt/intro/rates-thresholds.htm#2It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0 -
Check if you qualify for Disadvantaged Area Relief;-
http://www.hmrc.gov.uk/so/dar/dar-search.htm
Not looked at it recently, so I'm assuming it still applies.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Thank you to all except for Geoffky with his unhelpful comments. For your information,I am not one of the "useless fools" that you seem to assume. I am using my savings to buy,not borrowing,as I have worked out that I will get a better return for my money by buying a property and renting it out instead of the pitiful amount of interest currently being paid by banks and building societies. Thanks to the "reckless fools"! Perhaps you should check your facts before responding in the future?0
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Thank you to all except for Geoffky with his unhelpful comments. For your information,I am not one of the "useless fools" that you seem to assume. I am using my savings to buy,not borrowing,as I have worked out that I will get a better return for my money by buying a property and renting it out instead of the pitiful amount of interest currently being paid by banks and building societies. Thanks to the "reckless fools"! Perhaps you should check your facts before responding in the future?
http://www.moneysupermarket.com/savings/alternative-bonds/
There are some decent bonds around paying up to 5% over the longer terms at the moment.
Maybe not as attractive as the rental yield vs property costs you may be able to realise but no doubt a damn site safer for your capital.
With Greece about to implode, huge questions marks over the future of the Eurozone/single currency and with the UK property market in the doldrums at the very best with every possibility of heading South I would be considering safety over potential return.0 -
I hope so.. yes you do. what made you think you were exempt?
http://www.hmrc.gov.uk/sdlt/intro/rates-thresholds.htm#2
Completely agree:
For the avoidance of doubt you the landlord will also, from time2time, may be liable for income tax, fuel duty tax, VAT, CGT, council tax etc etc etc (IIRC I think at least 7 possible taxes..)
As an honourable and patriotic person you will no doubt pay any tax due with good humour & promptly.
Cheers!!
Artful0 -
Thank you to all except for Geoffky with his unhelpful comments. For your information,I am not one of the "useless fools" that you seem to assume. I am using my savings to buy,not borrowing,as I have worked out that I will get a better return for my money by buying a property and renting it out instead of the pitiful amount of interest currently being paid by banks and building societies. Thanks to the "reckless fools"! Perhaps you should check your facts before responding in the future?
The 'reckless fools' comment is in his signature and gets attached to the bottom of ALL his posts - it was not directed at you and was not part of his response!0 -
Thank you to all except for Geoffky with his unhelpful comments. For your information,I am not one of the "useless fools" that you seem to assume. I am using my savings to buy,not borrowing,as I have worked out that I will get a better return for my money by buying a property and renting it out instead of the pitiful amount of interest currently being paid by banks and building societies. Thanks to the "reckless fools"! Perhaps you should check your facts before responding in the future?
We are supposed to be nice to newbies - you have a special atavar which demands that. Now perhaps you should behave towards geoffky how we are all supposed to be to you. His post deserves you pressing the thanks button.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
You misunderstood his post.
The 'reckless fools' comment is in his signature and gets attached to the bottom of ALL his posts - it was not directed at you and was not part of his response!
LOL - I have changed my signature to pink so its clearly that - as some of them do appear as "part" of the reply.Stuck on the carousel in Disneyland's Fantasyland
I live under a bridge in England
Been a member for ten years.
Retired in 2015 ( ill health ) Actuary for legal services.0
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