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Is this an ok way to avoid stamp duty ?
Cutfinger
Posts: 10 Forumite
Currently bidding on a house, trying to avoid paying stamp duty and making the offer more attractive to the seller. Would it ok to bid 119K and top up the offer with 2-3k for fixtures and fittings ? Therefore more money going to the seller and none on stamp duty. Also is it ok to suggest this to the EA ?
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Comments
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Cutfinger wrote:Currently bidding on a house, trying to avoid paying stamp duty and making the offer more attractive to the seller. Would it ok to bid 119K and top up the offer with 2-3k for fixtures and fittings ? Therefore more money going to the seller and none on stamp duty. Also is it ok to suggest this to the EA ?
Yes, no problem at all as long as the fixtures and fittings are worth 2-3k.0 -
If a house has an asking price which is only marginally above £120,000 then the stamp duty would be £1200. Everyone knows this. e.g. You, the seller and the Estate Agent who probably suggested the price in the first place.
I guess they put the price above £120,000 so that after you have knocked them down to about £119,995 you will be happy and they will be vrery very happy indeed.
You might want to try a lot less than £119,995 as your first offer................................I have put my clock back....... Kcolc ym0 -
When I asked the same question, apparently you can legally get up to about £5k fixtures and fittings on a house of this size before the taxman gets suspicious.Who made hogs and dogs and frogs?
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I agree with Robert,
If they won't accept an offer below the threshold ask them to pay the stamp duty for you. They will soon realise that your offer was attractive after all !!
Andy0
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