New Build+Options-Stamp Duty?
Discussion
Can anyone clarify how stamp duty is calculated on new builds with options? eg, house price is £249.9k(below the 3% stamp) and you have an option that takes it above this(an integrated dish washer for example can be £500) does this mean you now pay 3% stamp for a £500 dish washer??!!
Dave_ST220 said:
Can anyone clarify how stamp duty is calculated on new builds with options? eg, house price is £249.9k(below the 3% stamp) and you have an option that takes it above this(an integrated dish washer for example can be £500) does this mean you now pay 3% stamp for a £500 dish washer??!!
If your were silly enough to do the above yes technically you would pay stamp on the whole lot!!fish said:
Dave_ST220 said:
Can anyone clarify how stamp duty is calculated on new builds with options? eg, house price is £249.9k(below the 3% stamp) and you have an option that takes it above this(an integrated dish washer for example can be £500) does this mean you now pay 3% stamp for a £500 dish washer??!!
If your were silly enough to do the above yes technically you would pay stamp on the whole lot!!Edited by Dave_ST220 on Monday 5th January 18:25
RJE1966 said:
Dave_ST220 said:
Also, how are deposits usually handled(to secure a plot prior to it being built)? I cant say i'd be too happy sticking a few grand down on a plot that isn't built when any of the big builders could go under at any moment!
Stakeholder account at the solicitors?hmm, load of paper work arrived from our solicitors today, really do not like the look of this bit! :-
"The basic rule is that SDLT is payable on the TOTAL value of you deal with the seller.As well as the cash paid for the property, you may have included other items or services in the deal with your seller. the value of these things will have to be added together with the property price and SDLT is payable at the rate applicable to the total.
However, it may be possible to allocate a proper portion of the price to certain loose(as opposed to fixed) items where these are included in the deal."
It then goes on to say what can be termed "loose" (carpets, curtains).
Seeing as i have £15K's worth are pretty f
king fixed items(on top of a sale price of £250K) seems i'm screwed? I've just paid £12k in tax to this fking goverment with another £7k due July, there is no way on fking earth i'm paying them another £8k just to move fking house. Pissed off, oh am i.
"The basic rule is that SDLT is payable on the TOTAL value of you deal with the seller.As well as the cash paid for the property, you may have included other items or services in the deal with your seller. the value of these things will have to be added together with the property price and SDLT is payable at the rate applicable to the total.
However, it may be possible to allocate a proper portion of the price to certain loose(as opposed to fixed) items where these are included in the deal."
It then goes on to say what can be termed "loose" (carpets, curtains).
Seeing as i have £15K's worth are pretty f
king fixed items(on top of a sale price of £250K) seems i'm screwed? I've just paid £12k in tax to this fking goverment with another £7k due July, there is no way on fking earth i'm paying them another £8k just to move fking house. Pissed off, oh am i.£12k of fixed fitting onto of the house? Like what!?
You wont get around the fixed jobby really, unless you get them for "free".
Things like washing machines etc are easy to get around. It'd be just like the people moving out and taking it with them, then advertising it and then you buying it cash.
Even if your adding up curtins, cooker etc i still cant get to £12k's of second hand stuff!
You wont get around the fixed jobby really, unless you get them for "free".
Things like washing machines etc are easy to get around. It'd be just like the people moving out and taking it with them, then advertising it and then you buying it cash.
Even if your adding up curtins, cooker etc i still cant get to £12k's of second hand stuff!
Just sat here waiting for solicitor to call back. I fail to see how they would ever know? The purchase price is what the mortgage will be, options are coming out of our own pockets. If they want to fk about what is stopping us buying the half finished house for £250k then paying thme to finish it?! How is that different to buying any property then paying for things to go in it? Load of bks.
k about what is stopping us buying the half finished house for £250k then paying thme to finish it?! How is that different to buying any property then paying for things to go in it? Load of bks.Gassing Station | The Pie & Piston Archive | Top of Page | What's New | My Stuff