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fixtures & fittings ...opinions please
Comments
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Johnny_Doe wrote: »Would you say that £7250 is pushing it?
Add up the furnishings you'll be getting and give it your best estimate ...
If you're getting a £7k leather sofa and a £1k American Fridge and a £1k suooper dooper washing machine, then you might be able to justisy it since these items would cost you the same or more if you were to replace them like for like ...0 -
Reading the above it does seem a lot of worry for £1840.
Could the owners knock off £1000 to 1500 towards you paying the stamp duty legally?0 -
Thanks Soot, Do you know if appliances from fitted kitchens count towards the "fixtures and fittings"? ie dishwasher/fridge freezer etc...?
Edit - Sorry to butt in on thread but in my case I'm in the 3% threshold, best part of £8k sduty to pay vs £2500
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The fact that you are asking the question implies that you think it is innapropriate.
Be aware that it is much better to sleep at night than worry about the knock on the door. Tax evasion carries a prison sentence that could wreck the rest of your life ask yourself if it is worth it?0 -
PasturesNew wrote: »On paper it is possible, executing it is likely to bring you under the scrutiny of Her Majesty's finest jobsworths.
The term fixtures and fittings can't be used - you would need to use the term furnishings or similar.
There must be a comprehensive list of each item and its cost.
The value of each item must match what could be obtained by selling the item privately (small classified ads/car boot/ebay).
In short, you'd never be able to justify the cost of the list of things -v- the amount you are trying to reach.Add up the furnishings you'll be getting and give it your best estimate ...
If you're getting a £7k leather sofa and a £1k American Fridge and a £1k suooper dooper washing machine, then you might be able to justisy it since these items would cost you the same or more if you were to replace them like for like ...
Did you read PN's post?
It's not the cost when new, it's the value as a second hand item. For most things that is peanuts. That's why you can justify £1k or so but not the cost of all new furnishings.0 -
The fact that you are asking the question implies that you think it is innapropriate.
Be aware that it is much better to sleep at night than worry about the knock on the door. Tax evasion carries a prison sentence that could wreck the rest of your life ask yourself if it is worth it?
That's why the solicitor will just say no.0 -
OP you do need to talk to your solicitor now.
I have dealt with solicitors for the buyer and the seller and found times where they disgree between themselves on what the rules and amounts should be.
So what chance do you stand taking any advice from this forum as accurate - unless some posts a meaningful link and I am not aware of any but would love to see one.A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.0 -
Where's Richard Webster when you need him?:D
At least he could give us an informed opinion.0 -
OP you do need to talk to your solicitor now.
I have dealt with solicitors for the buyer and the seller and found times where they disgree between themselves on what the rules and amounts should be.
So what chance do you stand taking any advice from this forum as accurate - unless some posts a meaningful link and I am not aware of any but would love to see one.
The second post here
http://www.taxationweb.co.uk/forum/fixtures-and-fittings-t19298.html
is quite interesting and from someone who purports to know what they are talking about.0 -
The second post here
http://www.taxationweb.co.uk/forum/fixtures-and-fittings-t19298.html
is quite interesting and from someone who purports to know what they are talking about.
But ALL those that post on here purport to know what they are talking about - don't they:DA retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.0
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