Stamp Duty

[themaskedavenger]

Not really a right place for this but, thinking of going down the part-exchange route for a new house.

I guess I will have to pay the full value of the property that I am buying but what about the developer who buys mine?

Do they have a way around paying stamp duty or will it be factored into the offer and I end up paying stamp duty twice??

Cant see the Inland Revenue letting money escape them...........

[pdV6]

Developers have a 100% tax relief on SDLT as long as they don't hold onto the property too long.

{edited to clarify:} The relief is for properties specifically acquired as part of a part-exchange scheme.

>> Edited by pdV6 on Wednesday 2nd February 17:21

[themaskedavenger]

your a star, just wanted to check in case they tried to complain that they lost the stamp duty when it comes to negociation.

Thanks