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Fair shout. In our case it was one phone call and then one call from them relayed back to us, but yes you're right it may add up. Obviously speak to your solicitor if you're concerned, OP... as long as the solicitor is prepared to do this as part of of their fixed fee.
I suspect a solicitor might make one phone call or send one email/letter to the seller's solicitor as a good will gesture, but not much more.0 -
Could you not be there when they move out, see the items and pay cash ? This would be the same as privately buying some furniture from anyone; just that the goods aren't moved.
No it wouldn't.
It would be a transaction linked to a house purchase and should therefore be disclosed.
Otherwise we'd all be paying large amounts of cash for odd bits of furniture and not telling the taxman.0 -
There's no requirement to disclose to the taxman what you're paying for the moveable items. What you can't do is make an unrealistic apportionment of the price (not so relevant these days, but in the past people would desperately claim that the curtains were worth thousands in order to sneak under the stamp duty threshold).No it wouldn't.
It would be a transaction linked to a house purchase and should therefore be disclosed.
Otherwise we'd all be paying large amounts of cash for odd bits of furniture and not telling the taxman.0 -
There's no requirement to disclose to the taxman what you're paying for the moveable items. What you can't do is make an unrealistic apportionment of the price (not so relevant these days, but in the past people would desperately claim that the curtains were worth thousands in order to sneak under the stamp duty threshold).
Well you know more than me.
How would HMRC be able to ascertain if you had made an unrealistic apportionment if you don't have to tell them what that was?0 -
In the same way that they can't ascertain anything else which is self-assessed...but you could expect them to be more suspicious about transactions where your apportionment just happens to exactly match the SDLT band.How would HMRC be able to ascertain if you had made an unrealistic apportionment if you don't have to tell them what that was?0 -
In the same way that they can't ascertain anything else which is self-assessed...but you could expect them to be more suspicious about transactions where your apportionment just happens to exactly match the SDLT band.
Indeed. So is your advice therefore to simply not declare apportioned chattels to avoid raising suspicion?0 -
Indeed. So is your advice therefore to simply not declare apportioned chattels to avoid raising suspicion?
You can't declare them to HMRC - there's nowhere on the SDLT return to put them! They only want you to tell them the net chargeable consideration for the house.
But I would keep a record in case there were questions later (and for the other reasons stated above, would make it part of the contract anyway).0 -
You can't declare them to HMRC - there's nowhere on the SDLT return to put them! They only want you to tell them the net chargeable consideration for the house.
But I would keep a record in case there were questions later (and for the other reasons stated above, would make it part of the contract anyway).
By definition, if you declare the net consideration, aren't you declaring the value of chattels?
In the case of orsman vs HMRC how did HMRC even know that £8000 had been declared as chattels if there is no way to declare them on the submission?0 -
By definition, if you declare the net consideration, aren't you declaring the value of chattels?
No, because you're not declaring the gross consideration, just the net price on which the SDLT is to be calculated.
They got suspicious (not sure why, other than the £250k declared consideration) and made enquiries afterwards. Case report here.In the case of orsman vs HMRC how did HMRC even know that £8000 had been declared as chattels if there is no way to declare them on the submission?0
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