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Stamp Duty

siamese1
siamese1 Posts: 6 Forumite
in House buying, renting & selling
Anyone advise ,
What is the current threshold for stamp duty. My wife and I are buying a house for £135,950 - I was under the impression that stamp duty had been raised recently; but to what level I dont know .

Many thanks

Siamese1

Comments

  • theGrinch
    theGrinch Posts: 3,133 Forumite
    Part of the Furniture 1,000 Posts
    £120k in most area up from £60k

    then you have special exempt areas (check IR website) which were and remain £150k.
    "enough is a feast"...old Buddist proverb
  • mrcow
    mrcow Posts: 15,170 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Postcode search is here
    "One day I realised that when you are lying in your grave, it's no good saying, "I was too shy, too frightened."
    Because by then you've blown your chances. That's it."
  • siamese1
    siamese1 Posts: 6 Forumite
    Many thanks to those who have replied - cheers

    Siamese1
  • thehairybuilder
    thehairybuilder Posts: 508 Forumite
    How does stamp duty work if you buy land and build your own house ? For example , if I buy a plot for £70k and spend further £100k building a house do I have to pay stamp duty ?
    I`m now officially too old to die young
  • Kenny4315
    Kenny4315 Posts: 1,133 Forumite
    The spend on building ain't related to stamp duty. Remember if you self build to keep all your VAT stuff as you are able to claim VAT back on self-builds. I'd get in touch with HM customs & excise to confirm exact formats required, etc.
  • bridiej
    bridiej Posts: 5,775 Forumite
    1,000 Posts Combo Breaker
    Another question on stamp duty, is it paid by the buyer or does the seller also have to pay some?

    I just pop in now and then.... :)
    transcribing
  • Shrimp_Stu
    Shrimp_Stu Posts: 155 Forumite
    bridiej wrote:
    Another question on stamp duty, is it paid by the buyer or does the seller also have to pay some?


    Only the buyer pays Stamp Duty - you may see sometimes that a seller will help to contribute to Stamp Duty if they are desperate to sell their home but law states that only the buyer is liable to pay Stamp Duty.
  • John_M_Business
    John_M_Business Posts: 565 Forumite
    Shrimpers_Joy wrote:
    Only the buyer pays Stamp Duty - you may see sometimes that a seller will help to contribute to Stamp Duty if they are desperate to sell their home but law states that only the buyer is liable to pay Stamp Duty.

    Yes, in effect if a seller contributes, it's similar to an additional discount really. Sort of like the 'NO VAT' car offers... of course they still ACTUALLY charge VAT - but they offer a 17.5% discount.
    CarQuake / Ergo Digital
  • ReportInvestor
    ReportInvestor Posts: 3,646 Forumite
    Or even a 14.9% discount ;).
This discussion has been closed.
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