InTouch previously used a formula within calculators, email templates and document templates to calculate the Stamp Duty owed on the transfer of equity of a Matter.

If you were in the process of building your own calculator, email template or document template, then this had the potential of becoming a particularly challenging and time-consuming aspect. This process has now been simplified.

The previous formula has now been written directly into the coding of InTouch. This means that, in place of the formula, you can use what is termed a ‘helper’. The transfer of equity Stamp Duty helper is written below:

{{#ukmortgagestampduty consideration.amount existing.mortgage primary.home}}

The transfer of equity Stamp Duty helper can be copied and pasted from this document as required.

How does it work?

‘#ukmortgagestampduty’ points the app towards the full formula which is written directly into its coding. In effect, it becomes shorthand for the full formula.

The helper includes three data markers:

  • consideration.amount (the data marker relating to the size of the proposed remortgage)
  • existing.mortgage (the data marker relating to the size of the existing mortgage)
  • primary.home (the data marker relating to whether the property is the client’s 1st or 2nd+ home)

These three data markers are the variables that affect UK Stamp Duty. As a result, for the helper to function, they must have been inputted into the matter. See below, if you require assistance with this.

The Benefits of using the Helper

Previously, when UK Stamp Duty was updated, the long formula within each of the app’s calculators, email templates and document templates would have had to have been manually updated. This was potentially a very time-consuming process.

Now, when UK Stamp Duty is updated, we will input the new figures directly into the long formula that is written within the coding of the app. As this formula is used by each of the helpers, all the calculators, email templates and document templates will be automatically updated.

Using the Helper within a Calculator

If the helper is inputted into the template of a calculator, then every new matter created via the calculator will be built using the new helper.

Click > ‘Settings’.

Intouch settings button

Click > 'Quote Calculators'.

Intouch settings button

Click > 'Edit' on the quote calculator that you wish to input the helper.

Intouch settings button

Click > 'Quote tab'

Intouch settings button

Hover over ‘Stamp Duty Land Tax’ and click > ‘pencil icon’ to edit the fee.

Scroll down to ‘Fee calculation or cost’ and delete the entire calculation. Replace the calculation with the helper below:

{% raw %}

{{#ukmortgagestampduty consideration.amount existing.mortgage primary.home}}

{% endraw %}

Intouch settings button

Click > ‘Save’.

Note: It is important to highlight that the helper can only perform with the use of the ‘consideration.amount’, ‘existing.mortgage’ and ‘primary.home’ data markers. Ensure that the answering of a question within the calculator generates these data markers. By default, however, this should be the case.

Using the Helper within a Matter’s Document Template or Email Template

It is also possible to input the helper directly into the template of a document or email. If the email or document template’s relevant matter was opened using a calculator, then complete the following:

(If the matter was not opened using a calculator then see below).

Click > 'Settings'.

Intouch settings button

Click > 'Email Templates

Intouch settings button

Click onto the email template that you wish to add the helper to. Input the helper (as written out in the first page of this document) and save your template.

Note: The same process is true for adapting document templates.

What if the Matter was not opened using a Calculator?

If the matter in question does not require the use of a calculator, the data markers can be inputted directly into the matter’s template, permitting the helper to function.

To do this:

Click > ‘Settings’.

Intouch settings button

Click > 'Matter Templates'.

Intouch settings button

Click > 'Edit' on the relevant Matter Template.

Intouch settings button

Click > 'Custom Data'.

Intouch settings button

You can now add custom data in the form of a data marker. Input data markers and related data for:

  • consideration.amount
  • existing.mortgage
  • primary.home

The helper will now function within all email and document templates that it is used.