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    • robbay
    • By robbay 13th Oct 16, 5:03 PM
    • 5Posts
    • 1Thanks
    Stamp Duty Help please
    • #1
    • 13th Oct 16, 5:03 PM
    Stamp Duty Help please 13th Oct 16 at 5:03 PM

    Currently own a house worth 140k with 90k equity and was planning on taking 45k equity out for deposit on a second house costing 300k which would be our main residence with our old house a BTL. We knew we would have to pay 5k Stamp duty and we can just about manage this but here in lies the problem. Financial Advisor says that is all the SD to pay, spoke to Solicitor who said we would have to pay more like 14k so we spoke to a second solicitor who says we should only have to pay 5k but we might have to pay 14k and get a refund from the tax man.

    As you can imagine this is all very stressful as we have had an offer accepted based on the FA advice and now this has come up.

    Any help gratefully received,


Page 2
    • wesleyad
    • By wesleyad 15th Oct 16, 2:59 AM
    • 206 Posts
    • 162 Thanks
    This is odd as this is exactly what happened to me last Friday. Solicitor sent out final invoice with stamp duty at old rate. I advised that we had already had a house which was BTL and so were expecting to pay the higher rate. They were convinced that we didn't need to as we were buying a main residence.

    I was fretting all weekend about what to do and then Monday morning another solictor was on the case and noticed the error straight away.
    • robatwork
    • By robatwork 15th Oct 16, 9:47 AM
    • 4,282 Posts
    • 4,687 Thanks
    • AnotherJoe
    • By AnotherJoe 17th Oct 16, 12:58 AM
    • 9,392 Posts
    • 10,370 Thanks
    The solicitor is wrong and why is he referring to HMRC as IR? The Inland Revenue dissolved in April 2005! He sounds out of touch. Email him the links I gave you and tell the solicitor to read them.
    Originally posted by Pixie5740
    I'd drop him, He is utterly useless, indeed worse.

    p.s. After you've found a solicitor who has a clue, any bills from the old solicitor should be returned with a note stating that as their advice was so poor you do not intend to pay and indeed will be making a complaint via the proper channels, and you should do so.
    Last edited by AnotherJoe; 17-10-2016 at 10:15 AM.
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