Timeline for Stamp Duty for EU citizens (UK residents)
Current License: CC BY-SA 4.0
8 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| Sep 5, 2022 at 22:04 | comment | added | Ellie K | @Vicky I am a US citizen; I'm also surprised by the comment about rights being gone. We don't call it a stamp tax, but we have something similar. If one partly or wholly owns a home, and buys a 2nd home, the tax treatment is more punitive. I don't even know if there is a grace period. Also, If one sells one's primary residence, one has up to 3 years to purchase another primary residence. Otherwise, the profit on the sale of the home is taxed at 26% (or if sold at a loss, the 26% capital tax deduction of the amount of the loss is forfeited.) | |
| Apr 1, 2021 at 12:42 | comment | added | anotherdave | @Vicky Agreed. While there are a lot of things you can put down to Brexit, this isn't one of them. | |
| Mar 17, 2021 at 11:17 | comment | added | Vicky | Why do you say "Our rights are gone and it is devastating."? Paying stamp duty is a normal part of a property transaction in the UK. It's no different than walking into a shop and complaining that you had to pay VAT on your purchases. If you can't afford the property+stamp duty then you have to buy a cheaper property. Sorry if this sounds harsh but I don't understand the issue. | |
| Mar 16, 2021 at 20:22 | comment | added | Datacrawler | In Spain you can get a mansion with 130000 euros where in the UK, an equivalent house would cost 817000 euros. As a result, the taxes overall are still cheaper in Spain etc. | |
| Mar 16, 2021 at 20:15 | comment | added | Mike Scott | @Datacrawler In fact, 3% is pretty cheap by European standards. It’s 8% to 10% in Spain, 5% in France, 3.5% to 6.5% in Germany. | |
| Mar 16, 2021 at 20:12 | comment | added | Datacrawler | Thanks for the response. I lost any hope. Our rights are gone and it is devastating. 12k for a tax even with a discount is excessive. The only way is to give the current property to a family member. Or open a business and buy it under the corporate name? Is that possible? But in that case, help to buy will not count, I guess. | |
| Mar 16, 2021 at 19:42 | comment | added | Vicky | I agree, you are liable for the stamp duty on an "additional property". There's a good calculator here: stampdutycalculator.org.uk/stamp-duty-holiday.htm | |
| Mar 16, 2021 at 19:38 | history | answered | Mike Scott | CC BY-SA 4.0 |