Can I offer cash or is this illegal?

theartfullodger

A tenable view, in that it is held. Thanks for pointing out the LIFT wrinkle..

I did ask if I had misunderstood - and I'm eagerly awaiting his response & if I had will of course apologise.

But thanks, yes, but were someone trying to fiddle round the LIFT scheme rules, to his pecuniary advantage, but offering an undeclared cash payment that seems to be dead on Fraud Act S3...
http://www.legislation.gov.uk/ukpga/2006/35/section/3

3Fraud by failing to disclose information

A person is in breach of this section if he—

(a)dishonestly fails to disclose to another person information which he is under a legal duty to disclose, and

(b)intends, by failing to disclose the information—

(i) to make a gain for himself or another, or
(ii) to cause loss to another or to expose another to a risk of loss.

btw there is no SDLT at all in Scotland: It's LBTT.
Have now seen revision of

Cocolisboa wrote: »

I would have offered an extra 3k in cash on top of my offer.

to

But as I said I won't be offering cash.

Great!, good to hear that I naturally withdraw my earlier remarks, made based on a misunderstanding..

Cocolisboa

Theartfuldodger thanks for this response. This is why I was posting anyway to check if it were legal or not. Now I know its not I will definitely not be doing this.

theartfullodger

Cocolisboa wrote: »

Theartfuldodger thanks for this response.....

Lodger not Dodger: I don't dodge!

Serious point: Attention to detail matters with property transactions, mortgages, LIFT etc etc etc... Read the paperwork: Then read it again ... (you'll find something..)

Cocolisboa

Woops :rotfl: thank you.