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  • Cidersid
    • #2
    • 25th Sep 09, 4:44 PM
    • #2
    • 25th Sep 09, 4:44 PM
    A tax on a tax???

    don't tell gordon!!!
    • LandyAndy
    • By LandyAndy 25th Sep 09, 4:49 PM
    • 23,600 Posts
    • 49,975 Thanks
    LandyAndy
    • #3
    • 25th Sep 09, 4:49 PM
    • #3
    • 25th Sep 09, 4:49 PM
    Do you pay VAT on Stamp Duty?

    No.
    • noh
    • By noh 25th Sep 09, 4:51 PM
    • 5,061 Posts
    • 3,384 Thanks
    noh
    • #4
    • 25th Sep 09, 4:51 PM
    • #4
    • 25th Sep 09, 4:51 PM
    A tax on a tax???

    don't tell gordon!!!
    Originally posted by Cidersid
    Already happens VAT is charged on fuel duty on petrol/desiel and duty on alcohol and tobacco.
    • googler
    • By googler 25th Sep 09, 4:51 PM
    • 14,280 Posts
    • 9,240 Thanks
    googler
    • #5
    • 25th Sep 09, 4:51 PM
    • #5
    • 25th Sep 09, 4:51 PM
    A tax on a tax???

    don't tell gordon!!!
    Originally posted by Cidersid
    It's Value Added Tax - an addition to items or services which have a value. Since Stamp Duty is of itself a tax on a transaction, and has no intrinsic value....
    • Richard Webster
    • By Richard Webster 26th Sep 09, 2:02 PM
    • 7,326 Posts
    • 6,986 Thanks
    Richard Webster
    • #6
    • 26th Sep 09, 2:02 PM
    • #6
    • 26th Sep 09, 2:02 PM
    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.
  • Viper_7
    • #7
    • 26th Sep 09, 2:19 PM
    • #7
    • 26th Sep 09, 2:19 PM
    Already happens VAT is charged on fuel duty on petrol/desiel and duty on alcohol and tobacco.
    Originally posted by noh
    Belive the post was joking!

    Taxed for earning it.
    Taxed for spending it.
    Taxed for saving it.
    Taxed on it when you kick the bucket.
    • JasonLVC
    • By JasonLVC 26th Sep 09, 6:13 PM
    • 13,622 Posts
    • 30,822 Thanks
    JasonLVC
    • #8
    • 26th Sep 09, 6:13 PM
    • #8
    • 26th Sep 09, 6:13 PM
    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.
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