How To Avoiding Stamp Duty
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evered
Apprentice
Joined: 10 Nov 2006
Posts: 7
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 Posted: 10/09/07 - 08:59 Post subject: |
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| I have recently started thinking about buying a property. However, as the price is very high, I will probably need to pay stamp duty. I would like to know whether there is any possibility of avoiding it. I am not sure about that. If anyone could tell me, that would be great. Thanks in advance. |
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jorge
Apprentice
Joined: 29 May 2006
Posts: 7
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| Posted: 11/27/07 - 04:27 Post subject: |
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Stamp duty you pay is actually a tax you need to pay when buying a house. It also seems to me that it is very much dependent on the value of the property. For example, if the property you want to buy is 150.000 pounds or less, there will be no stamp duty. After that, you could be paying even up to 7,500 for a 250,000 property. If you keep the price lowered just beneath that price, you could end up paying less, but that is not a good way for you. Nevertheless, there are some legal ways to avoid stamp duty. You can buy in DDA, disadvantaged areas, for example. For some other info, go to http://www.iii.co.uk/articles/
articledisplay.jsp?section=Tax&article_id=977512. |
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