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Pippa

Stamp Duty Thresholds

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This is purely a question for my own interest, but certainly one to bear in mind for if I will look to buy maybe late 2006/07 (depending on what's happening then)!

In the past I know if someone's been after a place with an asking price of say, £270k, an offer of £249k is too low, but anything over hits the 3% stamp duty band. They could offer, therefore, £249k for the house, plus an arbitory amount for the fixtures and fittings (whatever they may be), thus allowing you to pay more, but only being clobbered for a maximum of £2,490 stamp duty.

Is this still allowed or is it now jumped on? Or will it be legal until seller's packs come in? Or will it still be feasible for the forseeable? Also, how much can be swung through if this approach is used?

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It has never been 'allowed' officially. you can sell / purchase fixtures and fittings but this has to be at a reasonable price otherwise the IR will just hit you for it regardless.

If you are using a half-decent solicitor, you will be asked to detail all f&fs, something which can be used as input in the event of a tax dispute.

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In this age of cheap imported tat, I find it very hard to believe that "fixtures and fittings" are worth anything at all.

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  • 335 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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