Stamp Duty on House Sales

  oresome 10:41 18 Aug 2019

There is talk of this being transferred from purchaser to seller, but won't the seller simply raise the price to compensate?

Suspending reality for a moment and assuming sale prices don't increase and tax rates stay similar, who would benefit? Those that are upgrading will pay less duty on the sale of their lower priced property while those downgrading will pay more.

I suppose it could be argued that the down graders are releasing equity and are best placed to take the tax hit.

  wee eddie 10:57 18 Aug 2019

I always thought that the price of a House was dictated by the Buyers, in todays market.

Of course, I'm assuming that there will be more than one buyer, the highest offer is usually accepted. If no offer reaches the Seller's expectation, the Property is removed from the market until a later date.

  Pine Man 11:12 18 Aug 2019

If they did do this how would they cater for a house bought under the old system?

On introduction those who owned houses would have paid stamp duty when they purchased them and when they came to sell them under the new scheme they would pay again!!

  HondaMan 11:22 18 Aug 2019

Property is removed from the market until a later date. Not always possible if the move is work dictated

  wee eddie 13:15 18 Aug 2019

HondaMan: Then they would need to accept the highest offer. Little change there then

  oresome 14:12 18 Aug 2019

Looking into this a little further, I see there is now stamp duty relief for first time buyers meaning they pay no duty on purchases up to £300K in England and N.I. with additional relief available in expensive locations like London.

I can't imagine this relief being extended to sellers, should they be required to pay the duty and the sale is to a first time buyer.

  BT 09:02 19 Aug 2019

FAKE NEWS

According to BBC this morning

  Pine Man 11:05 19 Aug 2019
  oresome 15:37 19 Aug 2019

Try this link

.

click here

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