Autumn statement 2014 - SDLT changes
Discussion
Mattt said:
Heard a couple of rumours (or wishes) about thresholds changing or progressive taxation.
Anyone else heard anything of substance?
Well spotted Anyone else heard anything of substance?
Stamp duty rates
Mr Osborne spelled out the new stamp duty rates.
• No tax on the first £125,000 paid
• 2% on the portion up to £250,000
• 5% up to £925,000
• 10% up to £1.5 million
• 12% on everything above that.
He said: "As a result stamp duty will be cut for the 98% of homebuyers who pay it."
boxst said:
Anybody have an excel formula to work out the stamp duty?
Just about to buy a house and obviously can't use my standard formula now
https://www.gov.uk/government/publications/stamp-duty-reforms-factsheetJust about to buy a house and obviously can't use my standard formula now
Has just saved me a grand on the house im buying
I cant believe I just got a tax cut
vescaegg said:
https://www.gov.uk/government/publications/stamp-d...
Has just saved me a grand on the house im buying
I cant believe I just got a tax cut
That I just paid for -- mine is £1,250 more Has just saved me a grand on the house im buying
I cant believe I just got a tax cut
A tax designed to screw the London housing market. People won't move now and transaction numbers will fall. I would have preferred a mansion tax because at least that would have been a trickle payment every year and if you didn't like paying it you could move. Now to buy a £2m house you need to find an extra £54k upfront. That's 20 years of mansion tax in one hit!!
boxst said:
vescaegg said:
https://www.gov.uk/government/publications/stamp-d...
Has just saved me a grand on the house im buying
I cant believe I just got a tax cut
That I just paid for -- mine is £1,250 more Has just saved me a grand on the house im buying
I cant believe I just got a tax cut
R11ysf said:
A tax designed to screw the London housing market. People won't move now and transaction numbers will fall. I would have preferred a mansion tax because at least that would have been a trickle payment every year and if you didn't like paying it you could move. Now to buy a £2m house you need to find an extra £54k upfront. That's 20 years of mansion tax in one hit!!
Surely going to increase prices elsewhere though, as the £250k limit has disappeared. boxst said:
vescaegg said:
https://www.gov.uk/government/publications/stamp-d...
Has just saved me a grand on the house im buying
I cant believe I just got a tax cut
That I just paid for -- mine is £1,250 more Has just saved me a grand on the house im buying
I cant believe I just got a tax cut
In the middle of buying or selling a home? If you have exchanged contracts, but not completed the deal by midnight tonight, the chancellor said: "you will be able to choose whether to pay under the old system or the new, so no one in the middle of moving house will lose out."
worsy said:
Stamp duty
In the middle of buying or selling a home? If you have exchanged contracts, but not completed the deal by midnight tonight, the chancellor said: "you will be able to choose whether to pay under the old system or the new, so no one in the middle of moving house will lose out."
Had an offer accepted, no exchange of contracts and wont be until after Christmas.In the middle of buying or selling a home? If you have exchanged contracts, but not completed the deal by midnight tonight, the chancellor said: "you will be able to choose whether to pay under the old system or the new, so no one in the middle of moving house will lose out."
boxst said:
Anybody have an excel formula to work out the stamp duty?
Just about to buy a house and obviously can't use my standard formula now
One here: http://www.hmrc.gov.uk/tools/sdlt/land-and-propert...Just about to buy a house and obviously can't use my standard formula now
We completed on our first flat last month for £250k on the nose, having bartered down from the "£250,001>£275k, 3% deadzone". So whilst the change wouldnt have affected us in terms of SDLT, hopefully it nows means the property will rise nicely as there is no such "deadzone" to worry about
boxst said:
worsy said:
Stamp duty
In the middle of buying or selling a home? If you have exchanged contracts, but not completed the deal by midnight tonight, the chancellor said: "you will be able to choose whether to pay under the old system or the new, so no one in the middle of moving house will lose out."
Had an offer accepted, no exchange of contracts and wont be until after Christmas.In the middle of buying or selling a home? If you have exchanged contracts, but not completed the deal by midnight tonight, the chancellor said: "you will be able to choose whether to pay under the old system or the new, so no one in the middle of moving house will lose out."
boxst said:
RichB said:
so why is it costing you £1,250 more?
I haven't exchanged contracts, current stamp duty is £57,500 new one will be £58,750.Gassing Station | Finance | Top of Page | What's New | My Stuff