Anyone know anything about a scheme (loophole) to avoid stamp duty on a house?

[DimPrawn]

Maybe hes done the math allready and its spend 15k to save 35k (hence the 20k figure).

anyway. Here they are: http://www.avoidstampduty.com/

Yes, it's spend £15K and save £20K.

£500K, would not even buy a lockup garage.

[ASB]

Yes, it's spend £15K and save £20K.

£500K, would not even buy a lockup garage.

Fairy 'snuff. If you're spending about 800k then it's probably worthwhile.

Depending upon the sort of property you can occasionaly enter into different contracts for nominally different lots. Idea is to get each bit in a lower band, e.g. the land and outbuildings seperately, the anexes seperately and the main house on it's own. Trick is to stop it being regarded an one transaction for SDLT purposes. There is at least a small chance of getting the main house to < 500k and then only 15k stamp duty overall. It does involve a lot of fsking around with the land registry though.

[MrMark]

Anyone know anything about a scheme (loophole) to avoid stamp duty on a house?

I thought the current regime had suspended stamp duty for the forseeable future? If so the correct answer is get a load of banksters to ruin the economy, then get Darling to suspend stamp duty to refloat the housing market???

[DimPrawn]

Fairy 'snuff. If you're spending about 800k then it's probably worthwhile.

Depending upon the sort of property you can occasionaly enter into different contracts for nominally different lots. Idea is to get each bit in a lower band, e.g. the land and outbuildings seperately, the anexes seperately and the main house on it's own. Trick is to stop it being regarded an one transaction for SDLT purposes. There is at least a small chance of getting the main house to < 500k and then only 15k stamp duty overall. It does involve a lot of fsking around with the land registry though.

The scheme I'm talking about is much simpler.

A UK company buys the house, all above board and then somehow by magic it becomes mine, all for £15K in legal fees (ie. a fat greedy lawyer spends 10 minutes posting a letter).

[DimPrawn]

I thought the current regime had suspended stamp duty for the forseeable future? If so the correct answer is get a load of banksters to ruin the economy, then get Darling to suspend stamp duty to refloat the housing market???

Are you fick? Yes they have suspended stamp duty on houses under £120K or something. I'm talking about £800K houses FFS.

[OwlHoot]

Nope, this loophole has been mentioned in the budget but never closed.

But it could be closed, and this Government don't give a stuff about applying new legislation retrospectively (especially when their intentions have been pre-announced as in this case).

[DimPrawn]

But it could be closed, and this Government don't give a stuff about applying new legislation retrospectively (especially when their intentions have been pre-announced as in this case).

This is my worry. The fat pompous lawyer offering the scheme just laughed when I said "what about retrospective law?" Something about such a change would hit most of the MP's.

[Sysman]

This is my worry. The fat pompous lawyer offering the scheme just laughed when I said "what about retrospective law?" Something about such a change would hit most of the MP's.

And finally, we get to the punch line

[Clippy]

The scheme I'm talking about is much simpler.

A UK company buys the house, all above board and then somehow by magic it becomes mine, all for £15K in legal fees (ie. a fat greedy lawyerspends 10 minutes posting a letter).

This is my worry. The fat pompous lawyeroffering the scheme just laughed when I said "what about retrospective law?" Something about such a change would hit most of the MP's.

Fat people tend to sweat a lot.

Was the fat greedy pompous lawyer sweating as well.

[Cyberman]

MPs don't pay stamp duty either. They designate the house they buy as a second home and reclaim it. Simple !!