stamp duty question

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A
astos
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The extract below was part of a 'Letting Facts - Assured shorthold tenancy' website. (http://www.letlink.co.uk/Facts/Lfacts19.htm)

I am a bit confused by this paragraph on stamp duty. I have never heard of an AST being stamped before. My BTL apartments are all below the stamp duty threshold. I have never had to take anyone to court before, but if I had, would I have had to get the AST stamped before I went to court? if so, what about the tenants copy?

Totally confused??

Alex

Stamp Duty
Stamp duty is payable on all leases although in fact, stamping is not compulsory for short residential leases but a letting agreement must be stamped before it can be accepted in court as a valid document. Therefore, many firms

and landlords do not bother to stamp tenancy agreements unless there is a risk that the document may be produced in court (i.e. if the landlord starts possession proceedings). Although leases should be stamped within 30 days of execution, The Stamp Office will generally accept late documents on payment of a small penalty charge.



24/06/2006 00:00

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