We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Advice Needed On Dodging Stamp Duty
woodstoke
Posts: 236 Forumite
Hi, wondering if anyone out there has any ideas on stamp duty avoidance....here's my story............
i sold my house 9 weeks ago but have been waiting for the development company to get a commercial mortgage, this is now in place and we complete next week for £180,000. several weeks ago i put in an offer of £181,000 on a house i want and this was accepted and taken off the market......but because my sale has taken so long it has now been readvertised for that amount....... do you think i should put in a lower offer of £174,950 (i think this will be refused) or try and sort something out with the old guy whereas i give him £174,950 through solicitors and hand him the cash for the remainder £6,000 therefore avoiding the dreaded stamp duty....not sure what he'll say though.... might ask my solicitor to see what he says but will probably advise against anything like this......any other ideas welcome thanks
i sold my house 9 weeks ago but have been waiting for the development company to get a commercial mortgage, this is now in place and we complete next week for £180,000. several weeks ago i put in an offer of £181,000 on a house i want and this was accepted and taken off the market......but because my sale has taken so long it has now been readvertised for that amount....... do you think i should put in a lower offer of £174,950 (i think this will be refused) or try and sort something out with the old guy whereas i give him £174,950 through solicitors and hand him the cash for the remainder £6,000 therefore avoiding the dreaded stamp duty....not sure what he'll say though.... might ask my solicitor to see what he says but will probably advise against anything like this......any other ideas welcome thanks
0
Comments
-
Well dodgy.
You don't think they'll know to look out for this sort of thing?0 -
No one on this site will give you advice about dodging stamp duty as this is a moneysaving site not a breaking the law site.
Your solicitor will not help you as they could get themselves into trouble. In fact they could refuse to represent you any further.
Also the seller can screw you -they can get the money from you then decide not to go through with the sale. You won't have any legal comeback because you are committing an offence.I'm not cynical I'm realistic
(If a link I give opens pop ups I won't know I don't use windows)0 -
Happens all the time in Greece though.This is an open forum, anyone can post and I just did !0
-
I'm not sure of the legalities, but I believe people have included fixtures and fittings as 'extras' in order to avoid the threshold. Might be worth checking if you can ake up the difference by doing this - your vendor would obviously need to be leaving fixtures and fittings worth the amount you're talking about though - £6000?!0
-
(AKA HRH_MUngo)
Member #10 of £2 savers club
Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton0 -
The £175k figure has a magic attraction to it, and I doubt anybody will buy anything in the band just above it. I would put in your offer at £175k, and it may well be accepted. Have a plan B as well, though!No reliance should be placed on the above! Absolutely none, do you hear?0
-
By the way, fixtures and fittings are part of the property, but carpets and curtains, lamp fittings, the shed, that sort of stuff, can be sold separately. Maybe that'll bridge the gap for you.No reliance should be placed on the above! Absolutely none, do you hear?0
-
try and sort something out with the old guy whereas i give him £174,950 through solicitors and hand him the cash for the remainder £6,000 therefore avoiding the dreaded stamp duty..
Hang on - you want us to advise you on how to go about tax fraud.....?!...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
They have to be actually worth £6k, though, and the taxman isn't that stupid, a lot of the time!...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0
-
Is the house "THE" house for you for the foreseeable future?
Or just "A" house for you, and with a bit of effort you could find something pretty near equal?
If the former, £1800 is nothing in the scheme of things.
If the latter, pull out. Complete on your house, get into rental.
If house sells, move on. In six months you'll get something better for the same money. Or something the same for less.
If it doesn't sell, maybe go back at £170K (maybe less) in 3 months.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352K Banking & Borrowing
- 253.5K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245.1K Work, Benefits & Business
- 600.7K Mortgages, Homes & Bills
- 177.4K Life & Family
- 258.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards