Stamp Duty ?

Discussion in 'Property Tax and Accounting' started by Pontgeorge, Feb 14, 2019.

  1. Pontgeorge

    Pontgeorge New Member

    Hope someone can help with this stamp duty question as me and wife are beat.

    Bought a new build in August 2018 at £315k in my wife's name ( as first time buyer ).

    The stamp duty at the time was 300k hence she paid £750 duty...
    (5% on £15k).

    On now to the Oct p2018 budget in which the chancellor increased the stamp duty threshold from £300k to £500k and said this... I quote

    "Today I am extending this relief to all first time buyers of shared ownership properties valued up to £500k…

    …and we will make this relief retrospective so any first time buyer who has made such a purchase since the last Budget will benefit".

    My question is can my wife claim her stamp duty back ?

    Thank You.
  2. Pontgeorge

    Pontgeorge New Member

    Thanks for that.
    Last edited: Feb 15, 2019
  3. diyhelp

    diyhelp Active Member

    Hi @Pontgeorge

    I would be interested to hear how you get on as I guess many others will be in the same position as you.
  4. Pontgeorge

    Pontgeorge New Member

    Yes exactly, but no-one seems to realise that you can ( if it works ).
    To my mind the government should issue a auto refund without doing anything.

    I certainly will pass on all the correspondence I receive.

    Very helpful forum.
  5. FWL

    FWL Member

    Hi @Pontgeorge

    Good point. The government are not as shy coming forward if we owe them taxes :)
  6. Simon_Misiewicz

    Simon_Misiewicz New Member

    This scheme is for non-homeowners (meaning you could be a first-time buyer, have owned a property in the past but don't currently own one or be an existing shared owner – though in this instance, the stamp duty relief only applies to first-time buyers) who earn £80,000 a year or less (£90,000 or less in London).

    You should try and claim a stamp duty refund within four years of buying your property. You'll need to write to the SDLT office. For full information, visit the HMRC website.

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