Mark Miwurdz

Anybody remember what the rates are for stamp duty on buying property and at what level they kick in?

Cheers
Kav

SWRTWannabe

Not sure on the rate (1% springs to mind though), but I'm fairly certain it is payable on property over 60k

Dunk

iTrader: (1)

Duty on conveyances and land transfers, as from 28/03/2000*

Up to and including £60,000 Nil
Over £60,000 but not more than £250,000 1%
Over £250,000 but not more than £500,000, 3%
Over £500,000 4%

Remember that it's applicable to the entire sum, (therefore £252k would all be at 3%, and NOT £250k @ 1% and £2k @ 3%)

D

ScoobyK

1% £60,001 - £250,000
3% £250,001- £500,000
4% £500,001+

David Lock

But I don't think you pay VAT on top? Can someone confirm this?

DL

Tiggs

no vat.

just waiting for the "i bought mine for £249,999 and paid £67,000 for the carpets" post

David Lock

Or what about "bought Scoob for £299,000 with free garage and house thrown in!"

mattstant

HMMMM they are very wise to that one and they scrutinise anything going through land registry that is suspicously close to the margins.

Had one customer last year (in a slow period) who refused to pay it and wanted the price dropping from 275,000 so we payed it instead !!!

se6b

Yep, paid no stamp duty on mine in Manchester City Centre. Well chuffed!

MattW

How wierd is that? - Checked out Wales and Wrexham (where I'm from), there are some real sh1tholes in the list but there is one "Acton" which is a really nice area. Most of "Ruabon" is ok too(like any town some sh1tholes, some nice areas, some in between), so does this relief negate all stamp duty for these areas??

se6b

As I understand it, it applies to post codes i.e. streets rather than whole areas.

Glenn_R

Think I'd rather pay stamp duty than live in Moss Side

se6b

I'm not giving out my address but I can assure you it aint Moss Side....some of my neighbours you may know from Coronation St.

SWRTWannabe

no VAT - YET [img]images/smilies/mad.gif[/img]

[Edited by SWRTWannabe - 2/3/2003 9:24:56 AM]

ChrisB

Or find the right area and you pay no stamp duty at all.

See

http://www.inlandrevenue.gov.uk/so/disadvantaged.htm#1

[Edited by ChrisB - 2/3/2003 11:18:15 AM]