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wingrovebuyer
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

Resolved Question:

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
Submitted: 3 years ago.
Category: Property Law
Expert:  Aston Lawyer replied 3 years ago.

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 3 years ago.

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


Land cost is £2,250,000

Customer: replied 3 years ago.


yes stamp duty.


 


Sale price £2,250,000

Expert:  wingrovebuyer replied 3 years ago.
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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