Stamp Duty

[sretiolc]

My son is buying a house under £250k and selling his house. Contracts have been signed but no completion date yet. Will he still have to pay stamp duty now ?

[Zacs-Master]

How many days have elapsed since signing the contracts? You have 14 days after you complete on the purchase of a property to file a return to HMRC and pay any stamp duty that is due

[sretiolc]

He signed the contract to buy the house a week ago and signed to sell his house a couple of days ago.
So does this mean he has to pay stamp duty on completion date then claim it back ??

[naomi24]

If you’re talking about changes in stamp duty announced today, I don’t know when they come into effect. I suspect the old rules will apply to your son - but I don’t know for sure.

[Zacs-Master]

Depends how keen his solicitors have been (assuming he's using one for the conveyancing). He should call them.

[Sqad]

New rules for stamp duty come in immediately.

[youngmafbog]

The changes are immediate.

So if you havnt paid yet I would assume you dont need to pay.

But as suggested above contact your brief.

[naomi24]

In that case a call to the solicitor is in order.

[Peter Pedant]

why do people spend so much time saying ' foo I dont know, but Mrs mopp darn the road may'

https://www.bloomberg.com/news/articles/2022-09-23/uk-stamp-duty-cut-when-will-it-start-how-much-is-the-reduction?leadSource=uverify%20wall

answer to day

Your are a third party and have not mentioned the two important dates - EXCHANGE and completion.
Singing the contracts does NOT mean they have been exchanged.

The important date was completion - the rule "pay after x days" - the clock started on completion.

The tax was collected by the buyer's solicitor and I am sure he would not collect a tax which was not due.

[Old_Geezer]

If it's due, then maybe agree with the seller to break the contract and renew it ? Not that I'm any expert on these issues.