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ingermany

Comedy from the Guardian

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https://www.theguardian.com/money/2018/may/29/im-buying-a-second-home-how-much-stamp-duty-will-i-pay

Unbelieveable that this buyer didn't realise he owed an additional £12,000 stamp duty until he opened the completion statement from the solicitor. The article details his byzantine but futile efforts at avoidance of the tax..... a  "cunning plan"  worthy of Baldrick, that completely failed. 

Anyway, he bought a second house, whilst reclassifying his existing house as BTL and then designating the new house as his main res.  So he's simply changing his main res?   No....As the Guardian points out....you still own 2 houses mate, so suck up the 3% surcharge. You need to sell that BTL that was your main res. But it's too late now. Well I guess he has 3 years to sell and reclaim the 12k he just paid in tax......

As Del would say....what a plonker. 

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Think he gets three years to sell previous home and will get refunded the extra stamp duty. So get that BTL up for sale.

Edited by crashmonitor

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His solicitor, desperate for work and knowing that this plonker couldn't stump up the 12k extra, just went along with it until the last minute to get their billing hours, knowing that ultimately it was the 'savvy investor' and HMRCs issue not theirs.

Are they open for a malpractice case? 

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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