Stamp Duty Exempt

The vendor is paying the stamp duty. It overcomes the problem in the marginal region where the rate rises At £250k the rise is to 3% from 1%, so at £249,000 you pay £2,490 whereas at £250,000 you pay £7,500. For a vendor, selling at £260,000 and paying the stamp duty of £7,800 is better than selling for £249,999.

We bought a buy -to- let last year which was stamp duty exempt Gordon brown decided that some properties in run down areas are not liable for duty now There is a website which you can check by putting in the post code but I'm not sure of the address

hope this helps a bit

Bruno

Thanks for replies

Phil

In message , Terry Harper writes

No, it means it is in an area designated as being exempt from stamp duty. Its called 'disadvantaged areas relief'.

The inland revenue website has a facility to search a postcode to see if it is exempt.