Stamp Duty on property I already own?

wilburt · Apprentice Joined: 17 Dec 2007 Posts: 4

Hello, guys. I am little concerned about something. My neighbor says to me that I will have to pay a stamp duty on a property I already own. Is this true? This is the first time I hear something like that. I hope she isn’t right. I will appreciate all your advices. Thanks, guys.

hillery · Apprentice Joined: 02 May 2005 Posts: 5

Hello, there. Just to tell you at the beginning, I am not an economist or something similar. Are you sure your neighbor is right? As far as I know, stamp duty is paid when purchasing new homes, second hand homes and lands and sites. And it must be paid if its value is above £125.000. Then stamp duty is 1% of property. If it is above £250.000, it is 3%. I am not sure you have to pay for property you already own. I hope someone will know the exact answer. I hope it will be soon. Good luck!

Stamp Duty on property I already own?

LIFEFORM SOCIAL COMMUNITY NETWORK