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Stamp Duty Tricks

 
I've been told that it's possible to, for instance, buy a house for 260k, claim 10k as fixtures and fittings and only pay 1% Stamp Duty.

The question I have is, has anyone actually done this, how far can you push it (15-20k F&F?), and can you still get a mortgage lender to lend you the 260k (or more)?

Thanks for any advice


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  Report Abuse |  Date 6/10/2003 6:18:00 PM
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Guest

Stamp Duty Tricks

 (in reply to Guest) 
Yes, this is common practice. Of course, you cannot borrow money against the 'fixtures and fittings'. What you must do is leave cash - or a cheque - with the estate agent to hand over on completion.
If Stamp Duty were not such an unfair tax, with ridiculous increments, then there would not be so much abuse. It should, of course, be scrapped.
Bear in mind that you can perfectly legitimately offer to pay separately for items within the dwelling (eg a plasma TV or Koi carp!) entirely legally and properly.


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  Report Abuse |  Date 20/1/2004 5:55:00 AM
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