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wingrovebuyer, Senior Solicitor
Category: Property Law
Satisfied Customers: 737
Experience:  Bachelor of Laws (Honours); PG Diploma in Law; Member of ALA; 9 years' experience
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hi im buying a piece of land (with an exiting resi house on

This answer was rated:

hi
im buying a piece of land (with an exiting resi house on it) for development over £2m. As its for development do I still have to pay 7% or will it reduce down to 5% as I'm buying it as a piece of land not to live in.
thanks

Hi there,

Thanks for your enquiry.

 

Could you please confirm how much you are buying the land for?

 

(I take it that you are talking about Stamp Duty).

 

Thanks

AL

Customer: replied 4 years ago.

Sorry yes stamp duty... can't believe I left that part out.


Land cost is £2,250,000

Customer: replied 4 years ago.


yes stamp duty.


 


Sale price £2,250,000

Hello, my colleague has opted out, but I can confirm that you will pay, unfortunately, the residential stamp duty rate. Sorry!
wingrovebuyer, Senior Solicitor
Category: Property Law
Satisfied Customers: 737
Experience: Bachelor of Laws (Honours); PG Diploma in Law; Member of ALA; 9 years' experience
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