Stamp Duty on property I already own?
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wilburt
Apprentice
Joined: 17 Dec 2007
Posts: 9
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 Posted: 01/20/08 - 11:53 Post subject: |
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| 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. |
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hillery
Apprentice
Joined: 02 May 2005
Posts: 6
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| Posted: 02/19/08 - 03:23 Post subject: |
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| 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! |
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