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Estate Agency Fee's +VAT?
dfarry
Posts: 940 Forumite
Probably a very stupid question but are EA fee's plus VAT?
I overlooked the VAT bit in my home buying budget oops!
I overlooked the VAT bit in my home buying budget oops!
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Comments
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Yes. VAT is added on to whatever fee you have agreed.0
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Yes EA's neglect to tell you their fees unless you specifically ask I feel and then neglect to tell you it's plus VAT!!!! Extra £1k went in vat for us!!!0
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Just checked.... it is on the paperwork from them.... I just missed it... oh well.... just some more tax to go with the £9165 stamp duty!
We just agreed a straight 1% fee (£2150) so the VAT has added nearly £400 on top
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lilyann1 wrote:Yes EA's neglect to tell you their fees unless you specifically ask I feel and then neglect to tell you it's plus VAT!!!! Extra £1k went in vat for us!!!
By law, agents have to put their terms & conditions in writing before they accept instructions from a seller.0 -
it depends if agent is VAT registered, though most established ones are these are usually some local ones not."enough is a feast"...old Buddist proverb0
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Can someone just clarify something about Stamp Duty for me the rates are below. If a house I buy is £200.000 do you have to pay 1% on all the amount or just on the amount from £125.001
up to £125,000 0%
£125,001 - £250,000 1%
£250,001 - £500,000 3%
£500,001 or more 4%"The time is always right to do what is right"0 -
Its 1% on the total, hence a house for sale at £125001 in fact costs £1252 to buy more than one on at 124999....:mad:No longer an accidental landlord, still a wannabe millionaire:beer:
initiative q sign up link
https://initiativeq.com/invite/HQHpIjaoQ0 -
OK but then if the house you buy is 30000 do you pay 1% on the 250000 and then 3% from 125001 to the 300000 ?
Do I have this right that the money just goes to the government and they have do nothing for it ?"The time is always right to do what is right"0 -
You pay the higher rate on the whole purchase price, it's not a 'marginal' tax.0
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Just to clarify .... it's a flat rate tax, with the rate you pay based on the purchase price. It's not tiered like income tax. Once the price is in the higher band, you pay that rate of tax on the whole purchase price.
Yes - it's just a tax. It goes into the Government coffers to pay for .... all sorts of "stuff" :mad:Warning ..... I'm a peri-menopausal axe-wielding maniac
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