Do I still pay stamp duty?

landlord question uk SDLT property118.com

by Readers Question

9:39 AM, 28th September 2022, 4 years ago 4

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Landlord News Landlords Questions

Hi, I’m just at the tail end of purchasing another property to add to my portfolio. The price of the property is £140,000.

With the changes made by the government last week in the mini budget will I still pay stamp duty?

At this moment in time, my solicitor cannot advise on this as the HMRC portal has not been updated.

Thanks,

David

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Demelza Martin

Member Since July 2014 - Comments: 3

9:57 AM, 28th September 2022, About 4 years ago

From what I read second homes attract Stamp Duty.

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Puzzler

Member Since July 2013 - Comments: 1268 - Articles: 1

10:20 AM, 28th September 2022, About 4 years ago

There are 2 components to stamp duty – the underlying rate which I think would now not attract stamp duty and the uplift for 2nd homes which would still be payable. It depends how far down the process you are, I am not 100% sure but I think if you have exchanged it will be due at the old rate

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XPP

Member Since April 2020 - Comments: 16

10:36 AM, 28th September 2022, About 4 years ago

Reply to the comment left by Demelza Martin at 28/09/2022 – 09:57
Is it possible for you to provide the % of stamp duty surcharges calculation for a second property in a Ltd Co worth £475k after the mini budget changes please?

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Joe Boxer Read Full Bio

Member Since May 2017 - Comments: 16

6:50 PM, 28th September 2022, About 4 years ago

Reply to the comment left by XPP at 28/09/2022 – 10:36
You should find the answer to your question here
https://www.stampdutycalculator.org.uk/

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