• Late Payment Of Stamp Duty

    By Guest on 26th Jan 2019

    Hi is it possible, I can delay paying stamp duty beyond 30 days if completion but under 12 months. I understand there are penalty and interest implication.

    I am taking mortgage. But our solicitors advised that money is needed after completion.

    What is the risk if I don't pay stamp duty on time?

    Appreciate your assistance in advance.

    Regards,

    Viren

  • 1 Answers

    By Guest on 27/01/2019

    If the solicitor acting for the lender is doing his job properly, you will not be able to use the mortgage advance on completion if you do not send the funds for stamp duty in advance of completion.

    Assuming you somehow manage to complete with the mortgage and don't pay the SDLT you'll find HMRC chases you (court action if necessary), your solicitors will probably chase you, and you may also be in breach of your mortgage depending on its T&Cs.

    www.notaryexpress.co.uk

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