This petition was submitted during the 2015-2017 parliament
Petition No higher rate stamp duty, up front, for people who are buying / selling a home.
From April 1 2016, if you buy a new home and have not yet managed to sell your current home, for any reason, you will have to pay the higher rate of stamp duty UPFRONT. On a £250,000 purchase, you will have to pay £10,000 stamp duty instead of the normal amount of £2,500. See example, below:
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D and E are purchasing a property jointly which is intended to be their main residence. E already owns a property, which was previously used as a main residence, which he will not have sold at the time of purchase - even though it is for sale. Upon purchase, as E will own two properties and has not replaced his main residence, the higher rates will apply.
You get a refund of the higher rate if one of the property is sold within 18 months.
It is unfair to have to pay the higher rate upfront.
This petition is closed This petition ran for 6 months
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