Anybody remember what the rates are for stamp duty on buying property and at what level they kick in?
Cheers Kav |
Not sure on the rate (1% springs to mind though), but I'm fairly certain it is payable on property over 60k
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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 |
1% £60,001 - £250,000
3% £250,001- £500,000 4% £500,001+ |
But I don't think you pay VAT on top? Can someone confirm this?
DL |
no vat.
just waiting for the "i bought mine for £249,999 and paid £67,000 for the carpets" post ;) |
Or what about "bought Scoob for £299,000 with free garage and house thrown in!" :D
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no vat. just waiting for the "i bought mine for £249,999 and paid £67,000 for the carpets" post 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 !!! |
Yep, paid no stamp duty on mine in Manchester City Centre. Well chuffed!
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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??
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As I understand it, it applies to post codes i.e. streets rather than whole areas.
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Think I'd rather pay stamp duty than live in Moss Side;)
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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.
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no VAT - YET [img]images/smilies/mad.gif[/img]
[Edited by SWRTWannabe - 2/3/2003 9:24:56 AM] |
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] |
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