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workingpoor

3% Stamp Duty exemption to be announced

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9:32am

Government will add an exemption to the 3pc stamp duty charge to joint applications, says Boulger

Ray Boulger, senior technical adviser at John Charcol believes that the Government will add an exemption to the 3pc stamp duty charge to joint applications, meaning that parents helping their children onto the ladder will no longer face the prospect of being charged extra tax. 

And aid scheming BTL'ers & Landlords?

Hammond is giving BTL's a back door

 

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But what rules attached? Have to be on mortgage or just assisting with deposit? Will they have to have a stake in the property? The devil is in the detail. 

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1 minute ago, Bruce Banner said:

Anything that encourages parents to help their children buy into the bubble is a prop.

Quite. If something means that someone who couldn't buy an overpriced house now can it's propping up the high prices (unless that something is a fall in price of course).

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Buy to let has been a blight on university towns in particular - educational establishments should never have been able to massively up their numbers without providing accommodation themselves rather than swamping the local population.  This move would open the door to mummy and daddy buying an investment property at a discount effectively never mind what their son/daughter's financial position., playing the good old property game to offset some of the fees and gouging fellow students for some rent to boot!

 

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12 minutes ago, onlyme2 said:

If right Hammonds little fiefdom seems to leak like a sieve.

May should have axed him weeks ago in that case.

 

Isn't this standard procedure now? Leak everything and is something causes an adverse reaction, drop it.

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1 hour ago, workingpoor said:

9:32am

Government will add an exemption to the 3pc stamp duty charge to joint applications, says Boulger

Ray Boulger, senior technical adviser at John Charcol believes that the Government will add an exemption to the 3pc stamp duty charge to joint applications, meaning that parents helping their children onto the ladder will no longer face the prospect of being charged extra tax. 

And aid scheming BTL'ers & Landlords?

Hammond is giving BTL's a back door

 

Everyone exempt from 3% stamp duty then.

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Purchase price of property Rate of Stamp Duty Buy to Let/ Additional Home Rate (from April 2016) *
£0 - £125,000 0% 3%

 

There is only 1 3% stamp duty rate.

 

So that's a bottom of the pyramid housing prop.

F**king criminal if he does this IMHO

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Not sure how they could pull this one off.

There always was the sort-of inherent unfairness in the higher 3% Duty for married couples - but I thought this was deliberate as it would be impossible to distinguish between real couples who happen to own 2 properties, and landlords putting different properties in their wife or family's name.

So any loophole or exception would then give a loophole for abuse as well? 

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1 hour ago, Kiwi Toast said:

Has he finished yet? Did he mention stamp duty?

I cant see anything from the published summaries of changes, pretty sure that would have featured.

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29 minutes ago, ItalianV6 said:

I cant see anything from the published summaries of changes, pretty sure that would have featured.

Pretty sure The Telegraph would have brought out a special edition just to tell people.

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Boulger guilty of wishful thinking there then. Still, the btl run of luck had to end one day.

Edited by Si1

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