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erik
Apprentice
Joined: 11 Jun 2006
Posts: 7
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 Posted: 12/30/07 - 08:06 Post subject: |
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| Hello to you all. For some business reasons, I am obliged to move from Manchester to London. Since I intend to stay for couple of years, even forever, I am going to sell my apartment in Manchester and buy one in some of the London’s suburbs. I remember when buying my previous apartment I had to pay 2% for Stamp Duty. I would appreciate if someone could tell me is there something new concerning Stamp Duty and some ways of reducing Stamp Duty. |
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xymenes
Apprentice
Joined: 30 Nov 2005
Posts: 9
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| Posted: 01/29/08 - 01:32 Post subject: |
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| Hi there. Situation with Stamp Duty has not changed much. I don’t know how much you know about it but here’s something in brief. When buying a property you have to pay SDLT, or Stamp Duty Land Tax. It is a tax on a slab bases and depends on the value of the property involved. SDLT rate goes from 0 to 4%. The only way you can avoid paying SDLT is to buy a property whose worth is less than 150 000 pounds in so called disadvantaged areas. As far as London area is concerned, I know couple of those places. You can find them in Brent, Enfield, Islington, Newham, Lambeth etc but it’s better o check it out on the internet to see which is the best for you. I hope you will find some nice place in London and that you will like it here. Take care! |
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