If so, hold it right there! There's something you really need to be warned about; overlook it, and you could unnecessarily find yourself thousands of pounds out of pocket.
Since 2003, anyone purchasing a building or land worth over £250,000 has been obliged to pay an additional, one-off tax known as the Stamp Duty Land Tax (SDLT). Various websites allow you to use a stamp duty calculator to work out exactly how much you should be paying in this tax on an eligible property - and, as aforementioned, it can be a lot.
However, there is a way to help avoid a large chunk of it, and help shrink the staggering amount of tax that the stamp duty calculator reveals you would be compelled to pay. It's called SDLT Mitigation, and is offered by a number of different companies, helping to bring you into contact with specialist solicitors and nationally-renowned property tax consultants, thoroughly experienced in helping you identify ways of avoiding SDLT.
But what should the best of these companies offer?
They should be able to promise you market-leading SDLT Mitigation planning,which is completely compliant with the framework provided by The Council of Mortgage Lenders (CML). They should also promise to fully underwrite, and possibly insure, your fees, and ensure that the planning does not impact on your purchase timetables.
The other good thing about planning is that it leads to a thoroughly unencumbered freehold purchase. It should also remain a proprietary product, not with the company acting as resellers. Your provider should demonstrate that the planning is supported by a leading UK Tax barrister working from a leading barrister’s chambers. Patrick Cannon, Rory Mullen and Reg Nock are widely acknowledged as the leading barristers in this specialist field
And how would you uncover these companies?
Well, you can put down that phone book for a start - perusing that is a terribly dated searching procedure, unlikely to reveal many reputable companies offering SDLT Mitigation. Instead, turn to the Internet, and use a search engine to conduct a web search for 'stamp duty calculator', or some similar phrase. This will allow you to quickly and easily find the right website offering a stamp duty calculator, plus SDLT Mitigation. Good luck!
Stampduty4U tackle stamp duty problems with solutions that work. To learn more visit their website today and make use of their
stamp duty calculator .
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