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Savings All Savings guidance. Calculator Savings calculator. Employment Basics, benefits, tax and National Insurance. Losing your job What to do, alternatives, redundancy pay. You may also need some specialist tax advice from a tax lawyer. We have rented this for the last 7 and a half years. She wants to sell her share and I am going to buy her out. Do I need to pay stamp duty on the price that I am paying her? This is not my main residence. Any advice would be appreciated. It is complex.
If you would like to become a member of HomeOwners Alliance, we could set up a call for you on short notice with a tax lawyer. I am selling an inherited rental property and my main residence concurrently, to buy another main residence. If my main residence sells before the rental and I complete on the transaction, while still waiting for the rental to be sold; will I have to pay the additional purchase tax? My wife of 3 years is Spanish and used to live in a small flat that she owned in Barcelona she lived in it for about 8 years before meeting me.
She moved out about 7 years ago to live with me in larger but rented accommodation initially in Spain and now in London. We have now found a house we want to buy together in London but are being told we will have to pay higher rate stamp duty and we will not be able to apply for a refund. Apparently we have to pay the higher stamp duty because we are poorly renters at the moment we are not replacing our main residence if we owned where we have been living for the past 4 years we would be replacing our main residence — seems unfair to me!
My son bought the family home in I would be grateful if you could advise if we should take this further? Hi My husband and me are purchasing our first property in the UK. I assume we are not considered first time buyers, right? How much stamp duty do we pay?
I am not sure what applies to us. Thanks Ilia. Hi I have two questions to ask. First,we have bought our first house in August to live but due to some personal reasons son got a place in London school we had to move to London in December to London on rent we lived in our house one year four months. So my questions are- Can I get my registery cost back if I sell my house within two years.
Please give your valuable feedback on this. Thanks and regards. Hi We are selling our main house and buying another main residence. We own two rental properties, do we pay extra stamp duty on our purchase?
The property has a long-stop date on December 31, Lately I was told that the practical completion date of the flat will be March 31, I asked my solicitor and she told me I have the right to terminate the agreement at any time after the expiration of long stop day and receive back the premium already paid.
However she told me that the stamp duty that I have paid could not be refunded! I wonder if it is true. If I do not own the property at the end why I still haven to pay the stamp duty? Hi Kyle Thanks for getting in touch with your question.
In the meantime, you may wish to call the HMRC stamp duty land tax helpline for help with your query. They can be contacted on Hi, we own a flat which we have rented out since We sold our main residence 2yrs ago and went travelling.
Hello Richard, thanks for your question. Hi, my partner owns a property that he used to live in and now rents out. We live together in a property that I own and we now want to sell my house and buy a new house together. Hi Katie, because your partner still has a major interest in another property even though he lets it out , I believe you would be looking at the higher stamp duty charge.
This was in We then bought a BTL property in and her name as well as my name is on there. An offer has been accepted for the new house that we would like to move to and all moving process is under way. But I wonder if there is any way that we do not have to pay the extra 15,GBP because in my eyes it should be treated as if the property is owned jointly.
Only the circumstances at the time made it difficult for us to do so. Surely, the government should pick up this expense if they want the stamp duty transferred to them. The fee may be a bank transfer fee — ie how much the bank is charging your conveyancer to transfer the money.
Unfortunately this can be a tactic of conveyancing quotes — a low headline figure but then they attach on lots of extras. Here is a little more information on conveyancing fees. Hi May be a silly question but I just wondered can I wait for the sale of my home and I have received the funds before paying stamp duty on a home o am planning to purchase?
I just wondered if I will need to ensure I have the money for stamp duty up front or if it can come from the sale of my home? Many Thanks. I am buying a property as my main home, I do not own anything at the moment as I sold to move in rental to be able to care for yr old mum. I cannot move into it yet but will try to let till I can, what are my obligations for stamp duty?
Hello, Was just wondering if I will have to pay stamp duty or not and how much it would be. My girlfriend is first time buyer, but wondering because of the house I rent out will I have to pay the stamp duty. Or how is it? Hello Martin. I discussed with a finance adviser at my estate agent as I was doing research and he said I should ask a conveyancer to confirm. Is there any truth in the quote below and does that make me exempt or possibility of having reduced Stamp Duty when purchasing a new property as a first time buyer?
We are so sorry to hear about your situation. From what you have written, it sounds like the estate agent is acting improperly and illegally. We are also campaigning for industry to change. We believe that estate agents should be banned from offering services to buyers because of this conflict of interest and it is so difficult to police. Hi Im in the procces of purchasing property 1st property and exchanged about a month ago But have not yet completed it.
The property ready in a few weeks time. Will I have to pay the stamp duty still or will I be exempt now? Hello, Me and my partner are in the process of buying pur first property.
We have signed the contracts but are still waiting to move in in January. Under the new changes will we have to pay the stamp duty now or will we be exempt under the new rules? Hi there. I paid stamp duty today on my first house. Am I able to reclaim some of it after the budget speech?
No sorry! Can I reclaim the additional second property premium when I finally sell my exiting house? You can claim a refund of the higher rates if your old home is sold within 3 years of buying your new home.
You can claim a refund by changing the original return or completing a SDLT repayment request form. This must be claimed within 3 months of the sale or 1 year of the filing date of the return, whichever comes later.
I am presently getting divorced and wish to buy a property. My name is not on the deeds of the house only my wifes. Do i have to pay the additional SDRT? Would appreciate any clarification.
The timing of the transactions are such that the purchase will complete 2 weeks before the sale. At the time of the purchase completing, the sale will have already exchanged contracts. Due to the timings being so close together it seems a little bit protracted to have to pay the extra SDLT, to then reclaim the excess two weeks later.
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