New build stamp duty?
1:37 PM, 27th November 2015, 11 years ago
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We are just about to build 2 flats which we were hoping to keep to add to our portfolio so once built we would obtain a buy to let on them would we still have to pay the 5% stamp?
Many thanks
Robert
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2:03 PM, 27th November 2015, About 11 years ago
Why would you pay stamp duty on a property you’ve built and already own? All you are doing is mortgaging the flats, not buying them, so there’ll be no stamp duty to pay. You’ve already paid SDLT when you bought the site – it’s a Land Tax.