Arc property solicitors [TEXT DELETED BY FORUM TEAM]

reissgirl

We;ve sold our house and are purchasing a new one which is liable for 1% stamp duty. We've been shopping around online to get the best conveyancing quotes and Arc Property Solicitors have come up as one of the cheapest. But what has really caught our eye is that they're claiming to be able to save us nearly half the amount of stamp duty. Are they genuine or not??

Senior_Paper_Monitor

Can't comment on the actual firm (and the following comment on SDLT mitigation strategies in general does not infer I am)..

There are a number of stamp duty mitigation schemes being hawked around - they vary in technique, quality, validity and even legality by a considerable degree.

The complexity of the best strategies means that the advisers are generally unwilling to process small purchases (usual limit being £500,000 where the highest band, therefore highest saving and potential fees are available).

I deal occasionally with a specialist firm in this area, with I believe offers comfortably the best/lowest - indeed nil - risk strategy in the market, and they will only take a purchase under the half million if there are special circumstances (i.e I'm begging a favour) and even then it must be well into the £400K + bracket and it and the applicants meeting all their vetting criteria.

I would automatically be suspicious of a scheme levelled at the sub quarter of a million market.

Cheap conveyancing and advance tax strategies rarely go hand in hand.

CloudCuckooLand

Would take any promise to avoid SDLT with a large pinch of salt.

Unless they talking about Disadvantaged Areas relief ? http://www.hmrc.gov.uk/so/relief.htm http://www.hmrc.gov.uk/sdlt/reliefs-exemptions/disadvantaged-areas.htm

Any conveyancer should take that into account in the paperwork.

As for ARC themselves, have a read of https://forums.moneysavingexpert.com/discussion/1833469