News1 min ago
Stamp Duty
I am selling my house valued at £265000. I know that stamp duty land tax (stamp duty) is 1% up to 250000 and 3% above 250000 on the entire value of the property. By this calculation I would get less money if I sold it for 255000 than if it sold for 250000. Buyers are reluctant to go above the 250 figure and keep saying its because of the stamp duty. Are they just saying this to get me to sell it for 250 or is this an issue with all properties being sold in the region just above 250? If so is there anyway to legally reslove this issue? Also who actally pays the tax the seller or buyer?
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