Closing on day of Budget

M

MAJJ

Registered User
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Hi folks,

I hoping to close and receive keys to my first home on Wed.
Can anyone tell me when the changes to the budget are legally effective?
Also, any predictions or indications of intended changes to stamp duty (this is my main concern)? I know that no one has a crystal ball but perhaps there are experts who have a feeling?

Thanks
 
perhaps there are experts who have a feeling?
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Nobody, no matter how expert they are, can predict with any level of certainty, what will happen in the Budget in relation to Stamp Duty or any other tax, so unfortunately it is pretty much a waste of time seeking advance opinions.

Anyway, this is an important week for you and hope it goes well...
 
The Revenue will accept the date of the binding contract to be that which governs the stamp duty rates applicable to you.
 
Apart from half the budget being already leaked, given that there were stamp duty changes last year that affected investors, its likely that there would be no changes unless they were beneficial.
 
Thanks for your responses. BTW - my main concern was the legal aspect and not the crystal ball element. Rereading my posting I didn't make that clear. Thanks you all for your help I really appreciate it and also the speed of the responses was incredible. I hope I too can pass on some lessons from what I've been through.
 
Vanilla said:
The Revenue will accept the date of the binding contract to be that which governs the stamp duty rates applicable to you.
Click to expand...

Is this the date both parties have signed the contracts? As this has already happened or is it the actual closing date when keys are exchanged?

Thanks
 
In previous budgets where stamp duty changes adversely affected buyers, the revenue accepted the date of the signed contracts ( where they were not conditional) as being the relevant date, and not the date of the transfer or closing.
 
How come people are not making a bigger issue about a raising of the bands for stamp duty.....when was the last time they were index linked...give it another year or two and everybody will be paying 9%(635K+ isn't it) on trading up.
 
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