Stamp Duty - Budget 2007

P

Paula26

Guest
If changes are made with regards to stamp duty in the Budget on 7th of December, does anyone know when these changes would come into effect? I am a first time buyer of a second hand house. We have paid our booking deposit of €6k and are waiting to get our loan offer letter sent to the solicitor. Should we try and delay till the Budget?
 
I would imagine that if your sale has started then that would mean the Stamp Duty you pay is determined at the time of booking. Not sure though? I would imagine changes kick in on sales initiated after the date specified.
 
you don't own the property until completion day when you get the keys so i would wait until the budget. here in the UK, the exemption figure went up from £60,000 to £120,000 to £125,000 in the last couple of years. we pay 1% stamp duty for properties between £125,000 and £250,000 and then the next tier is i think 3% above £250k and so on.
 
There is another thread on this topic. Vanilla says it's at the time of signing. I also have a relation who closed his sale after the last change in stamp duty but was still liable because the sale began before the changes were introduced.
 
Hi Paula 26, Your deposit payment is not a contract to buy, so I dont think it could be considered as a purchase date for Stamp Duty but I imagine that the date you sign and pay the 10% probably would be the date taken for Duty .Your solicitor should know. Good luck
 
You must log in or register to reply here.
Back
Top