Stamp duty - when liable?!

(4 Posts)
Soph88888 Tue 07-Jul-20 20:14:50

Quick question, we are due to exchange in the next week or so, with a completion set for September.
Obviously eagerly anticipating a reduction in stamp duty when the chancellor speaks tomorrow..

Just wondering when we become liable for stamp duty, on exchange or completion? I know we pay on completion but if he makes the change with immediate effect after we exchange would we still need to pay?

OP’s posts: |
OfUselessBooks Tue 07-Jul-20 20:24:59

We spoke to an estate agent yesterday and he said it was due in completion. I was worried it might slow us down, but if t comes in straight away it could be really good for those of us trying to sell now!

Soph88888 Tue 07-Jul-20 20:27:26

Fab that's what I was hoping... it could make the difference between us being able to refurbish or have to save for another 2 years .. feels like just money down the drain.. I'd so love if they put a freeze on it!!!

OP’s posts: |
user1487194234 Tue 07-Jul-20 21:53:19

In Scotland so it might be different but normally when there are changes it depends on when the contract was concluded (equivalent to exchange?

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