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Do you pay VAT on Stamp Duty?
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# 1
PokerPlayer
Old 25-09-2009, 3:58 PM
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Default Do you pay VAT on Stamp Duty?

Hi,

Just wondering.

Thanks for any replies!
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# 2
Cidersid
Old 25-09-2009, 4:44 PM
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A tax on a tax???

don't tell gordon!!!
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# 3
LandyAndy
Old 25-09-2009, 4:49 PM
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Do you pay VAT on Stamp Duty?

No.
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# 4
noh
Old 25-09-2009, 4:51 PM
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Quote:
Originally Posted by Cidersid View Post
A tax on a tax???

don't tell gordon!!!
Already happens VAT is charged on fuel duty on petrol/desiel and duty on alcohol and tobacco.
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# 5
googler
Old 25-09-2009, 4:51 PM
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Quote:
Originally Posted by Cidersid View Post
A tax on a tax???

don't tell gordon!!!
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....
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# 6
Richard Webster
Old 26-09-2009, 2:02 PM
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Quote:
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 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 except to fee-paying clients.
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# 7
Viper_7
Old 26-09-2009, 2:19 PM
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Quote:
Originally Posted by noh View Post
Already happens VAT is charged on fuel duty on petrol/desiel and duty on alcohol and tobacco.
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.
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# 8
JasonLVC
Old 26-09-2009, 6:13 PM
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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.
Everyone is a genius. But if you judge a fish on its ability to climb a tree, it will live its whole life believing that it is stupid (A. Einstein)
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