Do I still pay stamp duty?

Do I still pay stamp duty?

9:39 AM, 28th September 2022, About 2 years ago 4

Text Size

Hi, I’m just at the tail end of purchasing another property to add to my portfolio. The price of the property is £140,000.

With the changes made by the government last week in the mini budget will I still pay stamp duty?

At this moment in time, my solicitor cannot advise on this as the HMRC portal has not been updated.

Thanks,

David


Share This Article


Comments

Demelza Martin

Become a Member

If you login or become a member you can view this members profile, comments, posts and send them messages!

Sign Up

9:57 AM, 28th September 2022, About 2 years ago

From what I read second homes attract Stamp Duty.

Puzzler

Become a Member

If you login or become a member you can view this members profile, comments, posts and send them messages!

Sign Up

10:20 AM, 28th September 2022, About 2 years ago

There are 2 components to stamp duty - the underlying rate which I think would now not attract stamp duty and the uplift for 2nd homes which would still be payable. It depends how far down the process you are, I am not 100% sure but I think if you have exchanged it will be due at the old rate

XPP

Become a Member

If you login or become a member you can view this members profile, comments, posts and send them messages!

Sign Up

10:36 AM, 28th September 2022, About 2 years ago

Reply to the comment left by Demelza Martin at 28/09/2022 - 09:57
Is it possible for you to provide the % of stamp duty surcharges calculation for a second property in a Ltd Co worth £475k after the mini budget changes please?

Joe Boxer

Become a Member

If you login or become a member you can view this members profile, comments, posts and send them messages!

Sign Up

18:50 PM, 28th September 2022, About 2 years ago

Reply to the comment left by XPP at 28/09/2022 - 10:36
You should find the answer to your question here
https://www.stampdutycalculator.org.uk/

Leave Comments

In order to post comments you will need to Sign In or Sign Up for a FREE Membership

or

Don't have an account? Sign Up

Landlord Automated Assistant Read More