Reply to: Arghhhh...no stamp duty up to £250K doesn't apply to..

[TimberWolf]

What we need now is a big overdue house price crash that will sweep away a lot of cobwebs.

[Olly]

Surely you don't need to pay UK stamp duty on property purchased outside the UK, do you?

we have a winner :P

[OwlHoot]

...those who bought a place abroad.
So my tiny Bulgarian flat that I bought with 25K I saved in Saudi 6 or 7 years counts. Argh...I only bought the flipper because UK house prices had risen by that much while I was away!

Well it's not registered with land authorities there any more because they went computerised and didn't want to type it all in.

I could well see myself keeping tight lipped about it!

flipers!

Surely you don't need to pay UK stamp duty on property purchased outside the UK, do you?

[Olly]

on a simplistic level yes.
there are the paper records still and a rudimentary computer record
but in order to sell it must be registered on their new system
which means you have to gather all the docs, plans, approvals and blah and go and queue multiple times and deal with ex commi bureaucracy
trying to organise the block to do this is like herding cats
it's also not cheap (unless split between the block)

[DimPrawn]

umm, are you suggesting your claim to ownership of a bulgarian property is not recorded formally at the bulgarian land registry ?


if yes,


oh dear


Milan.

I thought that. You gave someone money and there is no record you own it.

The buyers will be biting you hand off.

[milanbenes]

Oly,


'So my tiny Bulgarian flat that I bought with 25K I saved in Saudi 6 or 7 years counts. Argh...I only bought the flipper because UK house prices had risen by that much while I was away!

Well it's not registered with land authorities there any more because they went computerised and didn't want to type it all in.
'



umm, are you suggesting your claim to ownership of a bulgarian property is not recorded formally at the bulgarian land registry ?


if yes,


oh dear


Milan.

[Halo Jones]

We are lucky in that we do not complete until Monday so we get our stamp duty back

But if I look at what I am paying elsewhere in taxes it soons goes

[Olly]

Just wait two years until the limit goes back down (although the 5% bracket will stay), you won't feel as bad then...

If there's a sniff of a proper dip in prices I may well do that....right now there's just too much confidence / money still around coupled with small supply. I don't see that changing quickly, people are too stupid.

[DimPrawn]

I believe if you've ever owned a tent you can't apply as a first time buyer also.

HMR&C are going to check all the records at Argos, Millets, etc to catch out any liars.

[Olly]

Just thought too, many BG properties are owned by companies who are owned by Brits....try blinkin policing that one Hector

[ratewhore]

Just wait two years until the limit goes back down (although the 5% bracket will stay), you won't feel as bad then...

[Olly]

It did peak about about 95K Euro...not sure now...60 maybe? 65...though Euro is 10 or 15% stronger than it was and I spent a fair bit more than the initial price and kitting it out, taxes and blah..still never worked out what it cost in the end...hopefully I'll get back more than what the bank interest would have been.

No, main reason was basically spite, I'd basically worked my tits off in that hell hole and got nowhere. Figured house prices in UK were unsustainable and I could see myself drinking bad lager surrounded by impossibly slim girl on the beach there quite easily so I went for it.

Will since it's not registered (well not properly at least) in BG I agree, how the flip would they find out.

Oh my goooood......I owned a caravan once too this is not my day

sniff sniff

P.S. yup know he does but I try not to give too give the game away totally

All in all though..realise 1% is a lot, but house prices up and down as they are, it's hard to say it but £2500 is small fry.

[Mich the Tester]

How on earth would they be able to find out you have a place in Bulgaria?

Hector reads these threads.

[Fat Dave]

...those who bought a place abroad.
So my tiny Bulgarian flat that I bought with 25K I saved in Saudi 6 or 7 years counts. Argh...I only bought the flipper because UK house prices had risen by that much while I was away!

Well it's not registered with land authorities there any more because they went computerised and didn't want to type it all in.

I could well see myself keeping tight lipped about it!

flipers!

How on earth would they be able to find out you have a place in Bulgaria? I assume they will be doing Land Registry checks to validate first time buyer claims, but that will only find UK properties. I'd keep quiet about it.

[Xenophon]

Look everybody!

A house price-related thread!

TL;DR:

Buy low, sell high.

HTH