new legislation

odgy47


Joined: 04/01/2008
Posts: 75

Message Posted:
18/01/2008 10:33

anyone heard of a new legislation that was brought out jan 8 2008.apparently this is a compulsory payment of 1.5% of your puchase price.this is on top of the other payments that we are going to have to pay at a later stage.i have been told by my solicitor that it is to cover criminal liability for 5 years and some monetory compensation.all of which we dont understand.

simbas



Joined: 16/07/2007
Posts: 5943

Message Posted:
18/01/2008 10:36

have never heard of this ! odgy47

regards simbas

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
18/01/2008 10:51

This is all confusing is there any government web site that we can go on in order for us all to clarify these new rulings .

odgy47


Joined: 04/01/2008
Posts: 75

Message Posted:
18/01/2008 10:57

been told by solicitor that it has to be paid by april 8 or they wont proceed with my puchase.just need to know that its all legitimate first.

simbas



Joined: 16/07/2007
Posts: 5943

Message Posted:
18/01/2008 11:04

have you tried contacting another solicitor and asking them , i can give you ours if you want , a good ,honest ,charming gentleman who speaks good english , and who has practised in the uk

good luck simbas

Bowman


Joined: 02/05/2007
Posts: 256

Message Posted:
18/01/2008 11:33

The 1.5% is stamp duty which is to be paid for the lodging of your contract athe the tax office. This is not ne, it has always been the case. If your contracts are lodged within 21 days of signing, then you only have to pay 0.5% stamp duty.

odgy47


Joined: 04/01/2008
Posts: 75

Message Posted:
18/01/2008 14:58

thanks bowman.

you must have had a more reliable solicitor than us .we have to pay extra fees to lodge the contract aswell.