Stamp Duty
No come back……. I know it’s boring and super complicated but it could save you ALOT of money.
If you have a property with land, a few paddocks or a couple of acres with a pretty view, it’s worth finding a local farmer who would like to graze animals on your land.
If you have documented proof that your land is used for agricultural purposes as well as residential that could mean it is taxed as a Mixed Use Property when you come to sell it, which could mean the cost of buying your house is hundreds of thousand pounds less so you could ask for a higher purchase price. It is really complicated because the percentage charged increases incrementally but for the portion of purchase cost over £1.5 million it could be the difference between 12% SDLT and 5% SDLT if you don’t own another property.
For all the details of mixed land and property SDLT click the link below or call Andrew on 07961 257559
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