Home Owners > Buying and Selling
The cost of Stamp Duty
Banjo:
I had wondered whether you could do this for say a separate garage or the grounds. But I think it needs to be a separate transaction as the form says:
"This is not part of a transaction or series of transactions relating to the same property" and no doubt the legal fees would also be doubled!
They will always get you.
If you can trust the purchaser you could pay part with cash or home exchange - setting prices to reduce the Stamp duty payable.
Self build is a good way of not paying any Stamp Duty, you only buy the land and that should be below the 1% threshold.
FirstTimeBuyerGuru:
I believe the only way you could add enough value to buy at £250,000 and sell for £300,000 a few years down the line (the area where people might start considering paying stamp duty again) would be to add a loft conversion and gain another bedroom.
I'd be interested to hear other people's opinions.
Philofacts:
I would agree that £50,000 is the least amount of value added to make the next rate of stamp duty charged worthwhile.
Certainly adding extra rooms would add value.
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