The Breakfast Debate

• No stamp duty will be paid on the first £125,000 of a property
• 2% will be paid on the portion up to £250,000
• 5% is paid for the portion up to £925,000
• 10% is paid on the portion up to £1.5m
• 12% is paid on anything above that

 

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Sorry guys anyone buying a house for less than 937,500 is going to pay less than now. At 937,500 and above you pay more. I am afraid you and Elland are mistaken.

 

Simple enough calculation, and very definitely £1500.

£125k @ 0% = £0000.00
£75k @ 2% = £1500.00
Total = £1500.00

 

Elland was wrong. 60 is senile... Simples

 

The Chancellor has announced sweeping reform to Stamp Duty Land Tax (SDLT), disgarding the "badly designed" slab tax, and delivering savings for 98pc of home buyers.

The current system, where the amount owed jumps at each threshold level, will be replaced by a graduated rate, working in a similar way to income tax, from midnight, and will help young professionals and families get on the ladder by reducing the burden of stamp duty.

 

At least I stopped you looking a dick at work in the morning. You might have been into another bollocking if I hadn't told you your job.

 

Ok, in a nutshell you are not taxed on the first £125,000.

So, if you're buying at £200,000.

Its £200,000 - £125,000 = £75,000

£75,000 x 2% stamp duty = £1500

 

Was only half listening to the radio this evening on way home.

I8ts saving money for the first and second time buyers

 

I know. I told you that it was £1500 for a £200k selling price, you quoted £2000 and the Bardsey bumbler quoted £4000.

 

Anyone paying less than £937.5k saves money. That's probably 80/90% of all buyers?

 

You also started the conversation indicating sellers were worse off

 

Huh? I started the conversation indicating that estate agents are robbing feckers, you arn't trying to pretend otherwise are you. How could a seller be affected by stamp duty, you only pay it as a buyer as you well know.

 

Do we know that you can deduct the first 125k because it doesnt say so on the tin it clearly state severything above 250k %5

 

You can. Elland posted a chart showing the rates, all the online calculators are doing it, and it fits with the PR the Tories are saying its cut for 98% of home buyers.

 

Well as a geriatric its not vey explicit

 

Its a bit like shopping at Morrisons I noted today they were saying they are cheaper than Aldi well I have to tell you only in petrol

 

Perhaps they could print it in bigger font?

 

As wj will tell you I ahve invested in some new glasses to help me with the mobility scooter

 

Btw, chaps, for info, if you buy a property in Florida, you pay bugger all apart from the property price. The seller pays approx 9% of the property price - 3% buying fees, 3% selling fees & 3% of what we would call conveyancing fees. So Elland, move to Florida - you can get get 6% per sale!