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commercial property

Stuart56
Stuart56 Posts: 4 Newbie
in House buying, renting & selling
About to buy a commercial property which is £260k..

I'm wondering what taxes and stamp duties are invloved due to its high price tag? i'm in Scotland btw..


cheers

Comments

  • Alan_M_2
    Alan_M_2 Posts: 2,752 Forumite
    Commercial property has a different set of ramifications altogether, I strongly suggest you do lots of homework before you buy and be very clear how much your business rates are, they make council tax pale into insignificance.
  • dunstonh
    dunstonh Posts: 121,310 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    You can also buy commerical property within a pension. It can be a good way for someone with a larger pension fund to use their pension to fund their business. It is not that well known outside of accountants and IFAs though.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Alan_M_2
    Alan_M_2 Posts: 2,752 Forumite
    How very interesting, I didn't know that, that's certainly something that will go into the memory banks for the future. What a great way of getting a fund to work for you.
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