The Accidental Smallholder Forum

Community => Coffee Lounge => Topic started by: The Woodsiders on February 06, 2013, 10:49:13 pm

Title: Tax Tax and more Tax Rant
Post by: The Woodsiders on February 06, 2013, 10:49:13 pm
Hi all, can anyone enlighten me as to why we have to pay stamp duty when buying property? we want to move to be closer to our daughter and have found a place with land so we can continue with our attempt at the good life keeping our pigs and chickens, we have to pay £14.500.00 stamp duty on top of all other costs, why, why why, I think it, along with APD are totally immoral taxes inflicted on us >:(
Title: Re: Tax Tax and more Tax Rant
Post by: tizaala on February 07, 2013, 07:31:10 am
This is so that our profligate betters can continue to give £millions away to third world dictatorships , they in turn can then support our arms industry and slaughter their own people, creating refugees who we then have to give more money to look after . don't you feel better knowing  how your cash is so wisely spent ? You are doing you bit for the world economy, makes you proud to be British.
Title: Re: Tax Tax and more Tax Rant
Post by: The Woodsiders on February 07, 2013, 07:38:09 am
Thanks Tiz, now I feel a lot better about it knowing its going to a good cause!!!!!!!!!!!!!!! :gloomy:
Title: Re: Tax Tax and more Tax Rant
Post by: Rosemary on February 07, 2013, 09:01:13 am
Terrible - and you don't even get any stamps for the duty  >:( And don't get me started about the price of stamps...
Title: Re: Tax Tax and more Tax Rant
Post by: doganjo on February 07, 2013, 09:25:38 am
At least there's a Bill going through to change the structure from slab to graduated.  Much fairer.  I never understood the logic that if you paid £1 over the threshold you immediately paid the next rate up on the full amount.  That is every bit immoral
Title: Re: Tax Tax and more Tax Rant
Post by: happygolucky on February 07, 2013, 10:10:19 am
They are going to put the rate up to 3 per cent for property over £250,000, it is something like 1now or is that 1.5??? They hope it will bring prices down :( I know it was our cut off point when buying.... whops, think I got that wrong but,,,,I did read they were thinking of putting it up again..it certainly adds to selling a house costs...our estate agents are not doing much at all...as usual......I have bought and sold a few houses and often wonder if I could do it alone........We rang to view something on Sat and they never got back so we rang on Monday and they still never got back, we phoned them and they said they had been trying to organise the viewing...why did they not think to actually ring back to let us know that? A friend of my daughters does all his own legal stuff...not something I would contemplate at all!! :innocent:
 
Title: Re: Tax Tax and more Tax Rant
Post by: doganjo on February 07, 2013, 12:25:31 pm
You can't do your own 'legal stuff', conveyancing must be done by a 'legally qualified person'.    However, there is no reason why you can't do your own marketing.  I have done very successfully in the past, but as soon as I have had a verbal/email offer it has to go to the solicitor in writing for it to be recorded legally.  Just don't get me started on legal fees.
Title: Re: Tax Tax and more Tax Rant
Post by: the great composto on February 07, 2013, 01:31:33 pm
i am very happy with the tax as long as you pay it means I dont have to pay it in some other form.

I just wish the goevernment wouldnt waste so much of our money
Title: Re: Tax Tax and more Tax Rant
Post by: smiley bucket on February 07, 2013, 08:37:28 pm
This is so that our profligate betters can continue to give £millions away to third world dictatorships , they in turn can then support our arms industry and slaughter their own people, creating refugees who we then have to give more money to look after . don't you feel better knowing  how your cash is so wisely spent ? You are doing you bit for the world economy, makes you proud to be British.
:trophy:  Post of the Year so far  :trophy:
Title: Re: Tax Tax and more Tax Rant
Post by: Mad Goatwoman of Madeley on February 07, 2013, 09:53:41 pm
This is so that our profligate betters can continue to give £millions away to third world dictatorships , they in turn can then support our arms industry and slaughter their own people, creating refugees who we then have to give more money to look after . don't you feel better knowing  how your cash is so wisely spent ? You are doing you bit for the world economy, makes you proud to be British.

And there was me thinking it was to pay MPs' expenses.
Title: Re: Tax Tax and more Tax Rant
Post by: Daisys Mum on February 08, 2013, 07:52:07 am
This is so that our profligate betters can continue to give £millions away to third world dictatorships , they in turn can then support our arms industry and slaughter their own people, creating refugees who we then have to give more money to look after . don't you feel better knowing  how your cash is so wisely spent ? You are doing you bit for the world economy, makes you proud to be British.
:trophy:  Post of the Year so far  :trophy:
Definitely post of the year :bouquet:
Title: Re: Tax Tax and more Tax Rant
Post by: happygolucky on February 08, 2013, 09:45:54 am
There is no legal reason why you shouldn't do your own Conveyancing.  There are only certain parts of a property transaction for which you must use a Solicitor or Licenced Conveyancer, for example the final transfer of the property.  All the other parts you can do yourself.
A friend of ours did his own legal stuff for his house sale and his divorce, I think he only had minor intervention at the last stage but did all the rest himself and he said it was not too difficult, some houses or land is much more complicated than others....I had a few complicated issues, flying freehold, un adopted access road and parking...it was all sorted with a small form and a few quid to any solicitor, just so happened that working where I did in Leicester was on a road full of them...and courts  ::)
I would not do that but certainly selling a property, I did try and did get some responses but then you can become too personal, then in my opinion its better to get a third party in......
Inheritance tax was and is the worse tax, some people give away their homes in a hope that they will live long enough for their family not to have to pay tax on.........
 
Title: Re: Tax Tax and more Tax Rant
Post by: Orinoco on February 08, 2013, 10:23:54 am
Hi

There are ways not to pay Stamp Duty but its not guaranteed and the solicitors fees are steep, only worth doing if you are loaded.

Farming is a useful mechanism for getting round IHT with the Agricultural Property Relief at 100% or 50%, HMRC are alot stricter now on what is agricultural property.

There are alot of things traditionally in a soliciotrs remit that you can do yourself and if you find yourself using a rubbish solicitor you may as well but and its a big but there are risks, more to do with missing something or not knowing what you are looking for and finding a solicitor to do the bits you can't would be tricky.

All this fun stuff aside anyone know when the sun is coming back??  ???

K
Title: Re: Tax Tax and more Tax Rant
Post by: happygolucky on February 08, 2013, 10:27:00 am
 :cold: :cold: .......may as well emigrate!!
Title: Re: Tax Tax and more Tax Rant
Post by: tizaala on February 08, 2013, 10:49:46 am
You could always have a word with the buyers/sellers  and price the propperty just under the threshold then do a  £cash deal for the difference  :innocent:
Title: Re: Tax Tax and more Tax Rant
Post by: scarlettoara on February 08, 2013, 04:53:40 pm
stamp duty should be a gradual increase, not a 3% jump, its just ridiculous.
when we bought our place for £260k, our solicitor juggled a few things so we paid £10k on "moveables", not sure what that meant but im guessing gates, fencing etc?? and £250k on the house  but it meant we didnt pay the xtra stamp duty.
my friend bought his farm and paid for the land and house separately on separate deeds to stay under stamp duty threshold. its worth talking to the solicitor if you are buying land as many sellers will sell it separately to the house if required.
Title: Re: Tax Tax and more Tax Rant
Post by: Mad Goatwoman of Madeley on February 08, 2013, 10:04:50 pm
HMRC are getting wise to the tricks though.  When we bought our house just over six years ago we had to state what, if anything, we had bought from the vendors, such as carpets, curtains, and how much we had paid for them.  We were under the limit for stamp duty but the solicitor said everyone has to answer these questions now.