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PokerPlayer
Posts: 1 Newbie
Hi,
Just wondering.
Thanks for any replies!
Just wondering.
Thanks for any replies!
0
Comments
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A tax on a tax???
don't tell gordon!!!0 -
Do you pay VAT on Stamp Duty?
No.0 -
Do you pay VAT on Stamp Duty?
No.
But you do pay SDLT (new name for Stamp Duty) on VAT!
Some commercial properties are sold or leased with VAT added and you do then pay SDLT on the figure plus the VAT!RICHARD WEBSTER
As a retired conveyancing solicitor I believe the information given in the post to be useful assuming any properties concerned are in England/Wales but I accept no liability for it.0 -
SDLT does indeed then have VAT added to it - where of course, the property being sold is subject to VAT.
If the property is not subject to VAT, then no VAT is charged....so basically, if it is a commercial property then high chance of SDLT+VAT, if a residential property then no VAT will be added.
VAT is added on top of the selling price of something. The selling price will be made up of the cost the retailer wants plus any additional duty - depending upon what the item is (fags, beer, fuel,etc). If you import goods from outside the EU over a certain value it will also be subject to import duty + VAT, so yep, tax upon a tax.
VAT is not a "value added" tax, it is a transactional tax - the phrase "value added" is simply the most stupid description for this tax ever - hence people's confusion.Anger ruins joy, it steals the goodness of my mind. Forces me to say terrible things. Overcoming anger brings peace of mind, a mind without regret. If I overcome anger, I will be delightful and loved by everyone.0
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