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Stamp duty is payable by everyone
who purchases a property in England and Wales (for over £125,000.00)
however there are a number of tax mitigation schemes available
to you as a purchaser which would give you the opportunity of
saving the need to pay most if not all of the stamp duty liability
which would otherwise be payable.
If you are
considering purchasing a property worth over £250,000 get
in contact with us to see what we can do for you.
Typical transaction -
Husband and Wife wish to purchase a property worth £350,000.00.
Husband enters into the initial contract with the seller for
the purposes of exchange. Between exchange and completion, the
husband assigns most of his legal interest to his wife therefore
allowing her to be a part of the initial contract - by doing
so, they would be deemed as joint purchasers. On completion we
will then proceed to file the necessary form with Inland Revenue
so that we can complete the registration of the wife and husbands
legal interest in the property. The Inland Revenue is entitled
to a period of 10 months in which to raise queries. To protect
the client we will normally hold the full Stamp Duty on deposit,
refunding the client after the 10 month period or, if preferred,
following the register of your property at Land Registry.
Tax mitigation
schemes we deal with….
- Husband / wife
- Civil Partnerships
- Cohabitants
- Individuals (but note the Inland
Revenue have introduced legislation to prevent individuals benefiting)
- Experience in commercial transactions
For more information or to arrange
an informal discussion, please Contact
Us:
Alexander
Lawyers LLP is regulated by the solicitors regulation authority.
Organisation number 00448723
Registered Office Address Bervale House, 35-37 Moulsham Street,
Chelmsford, Essex CM2 0HY
Registered in England & Wales. Partnership No. OC323194.
VAT. No. 888 6853 40. |