Stamp Duty on leasehold second property

Landlord Discussion Property Investment
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I am in the process of buying a leasehold flat as a second property The buying price is £300000 . I looked at the governments website calculator and as it is a second property I though I would have to pay about £11500 stamp duty but my solicitor has quoted me me £14000 . I started the ball rolling in june 2022 . My question is do i have to pay even more stamp duty as its a leasehold property with a lease of 120 years ?? Any help would be greatly appreciated

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Iam no expert but have bought freehold and very long leasehold (999) never heard of paying more for leasehold

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3

If the lease is being extended then you may pay duty on the cost of the extension if it’s over £40000 I believe.

If not then I do not understand why there would be an additional fees outside of the £11500.

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4

if there was more to pay surely your solicitor would have told you?

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5

Hi Mark ,No the lease isnt being extended Ive emailed my solicitor to ask him to explain the £14000 ??? Original quote came from head office so hoping its an error

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Google " how much stamp duty will I pay"

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additional property comes up as £11500?

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Solicitors do make mistakes on stamp duty calculations. It happened to me once. I questioned it and got an “oh yeah, sorry….” response….

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Thanks Steve ,fingers crossed ,started wondering if SDLT was vatable but doesnt appear to be

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Have you factored in the additional 3% SDLT that you need to pay to own a second home?

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Hi David ,yes something not right will speak to my solicitor in the morning

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UPDATE
Spoke to solicitor confirmed had been quoted wrong amount !!! all sorted now but thanks for the help folks

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