Stamp duty

[MrsExtraOrdinary]

At what point is this payable? Prior to completion? On moving in day? Or afterwards?

Just trying to budget. We put an offer in today on a house.

when you complete - and it goes to your solicitor.

I was under the impression it's on completion.

If you are past the 3% stamp duty bracket not many people have that sort of cash waiting and would take it out of the equity from selling their place.

I could be wrong though

We don't have anything to sell. So I think we are looking at about 10k...eek.

I'm right in thinking it hasn't changed despite much discussion and over 250k it's 3%?

That's right. Anything over £250k and its 3%

Crazy really, it should be staggered better, but it pays so much to the government that without it, they would tax us higher elsewhere I guess

I bet they change the law the day after completion!

It's 3% between 250,000 and £500,000 then 4% if over £500,000.

For us it's been just before completion, after exchange, when we paid the other outstanding monies to the solicitor. I believe legally it has to be paid within 30 days of completion? Good luck!