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New Build Property – SDLT & Incentives - Advice Needed
tw88
Posts: 14 Forumite
When a purchaser is offered incentives by the developer (i.e. 5% deposit paid, SDLT paid, legal fees paid, etc.) the actual purchase price is reduced and it is this reduced figure that should be registered at the Land Registry and the incentives also informed to the lender.
I cannot find any information on which figure should be notified to HM Revenue & Customs when paying SDLT. Presumably it should be the reduced price?
I cannot find any information on which figure should be notified to HM Revenue & Customs when paying SDLT. Presumably it should be the reduced price?
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Comments
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The market value is what you pay SDLT on. As far as HMRC are concerned, the price before any incentives. Which is why we have all these overflated prices being reported to the Land Registry.
In reality, the market value is what you pay.
Really, it's best just to seek out a heavy price reduction, without these bizarre little sweeteners. If you barter hard, you'll do far better then the stuff they offer you as standard.Everything that is supposed to be in heaven is already here on earth.
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