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Previously on "Stamp duty and buying land to build on"

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  • AtW
    replied
    Originally posted by DimPrawn View Post
    So the smart thing now is to buy a plot of land (hopefully under £125K), which attracts zero Stamp Duty, get an house built on it.
    Great plan.

    Only one tiny drawback - best places already got houses built up.

    Leave a comment:


  • unemployed
    replied
    Originally posted by DimPrawn View Post
    Bonkers but worth knowing.

    lol i already did

    Leave a comment:


  • DimPrawn
    replied
    Originally posted by unemployed View Post

    why did he need offroad parking on a field
    Dunno, not sure they even asked, but because it wasn't a house, getting permission for an "out building" was easy. Then get permission to convert outbuilding to residential property was easy. Bonkers but worth knowing.

    Leave a comment:


  • unemployed
    replied
    Originally posted by DimPrawn View Post
    I know a property developer and builder, an acquaintance of mine, who bought some land without planning permission for next to nothing.

    He applied for planning to build a detached house and was turned down, lost at appeal.

    He submitted new plans for a very large triple sized double length detached garage, with tall roof line to provide off road parking and storage, and was granted permission. Built said garage.

    Then applied for change of use, to convert garage to separate two-storey dwelling, and was given planning.



    Made a massive profit. You gotta love the planning laws here. I blame the EU.
    yep comes under permitted development now

    old office blocks can be converted to residential just under permitted development now

    why did he need offroad parking on a field

    Leave a comment:


  • scooterscot
    replied
    1.8 arces overlooking the kingdom of fife. Yours for £70k

    Residential Development for sale in Residential Development, Whitehills Sawmill, Crossgates, Fife, KY4 8EX , KY4

    You could build an empire with your contracting income.

    Leave a comment:


  • DimPrawn
    replied
    I know a property developer and builder, an acquaintance of mine, who bought some land without planning permission for next to nothing.

    He applied for planning to build a detached house and was turned down, lost at appeal.

    He submitted new plans for a very large triple sized double length detached garage, with tall roof line to provide off road parking and storage, and was granted permission. Built said garage.

    Then applied for change of use, to convert garage to separate two-storey dwelling, and was given planning.



    Made a massive profit. You gotta love the planning laws here. I blame the EU.

    Leave a comment:


  • unemployed
    replied
    buy some fence a padlock and just steal some land and make up proof of fake ownership for 10 years

    and its yours for free no stamp duty to pay

    Leave a comment:


  • DimPrawn
    started a topic Stamp duty and buying land to build on

    Stamp duty and buying land to build on

    Q&A: New 3% Stamp Duty surcharge on second homes - Zoopla



    Q. Do plots of land count?

    A. Just like regular Stamp Duty, the 3% loading will only apply to purchases of residential property. A plot of land (even if it will subsequently be used for a home) is not counted as residential, so the surcharge will never apply.

    Similarly, if you already own a plot of land and are buying an additional property, it will not be considered for purposes of the higher tax.

    Ask an expert: 'Can I avoid extra stamp duty by building my second home?' 

    My in-laws are gifting us a building plot. We plan to build a new home and keep our current house to rent out. The value of the plot is £107,000, the build cost is £180,000 and the final value will be around £400,000. Will we be liable for stamp duty on any part of this, and will the extra stamp duty charge for second homes apply to us? RA, via email

    Generally speaking, building a house incurs far less stamp duty than buying one, as stamp duty is paid on the purchase price of the land rather than the value of the finished home.

    That means a home worth £400,000 built on a £107,000 plot of land would be stamp-duty free, as the land wouldn’t exceed the threshold (£125,000 for residential or £150,000 for non-residential) to pay stamp duty.


    So the smart thing now is to buy a plot of land (hopefully under £125K), which attracts zero Stamp Duty, get an house built on it.

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