Stamp Duty Avoidance

[speedo]

Anyone used any schemes to reduce stamp duty when purchasing a house? I have come across a few which will reduce the stamp by 50%.

Thanks

[d000hg]

Anyone used any schemes to reduce stamp duty when purchasing a house? I have come across a few which will reduce the stamp by 50%.

Thanks

Do share what you've come across...

[speedo]

Do share what you've come across...

if you Google it there are companies that help you do this - their policy is something like the following - as you exchange, you exchange again to an agent who then sells the house back to you again..... the whole exchange and exchange occurs simultaneously and therefore eliminates the stamp - the 50% is the fee to the agent.

I am sceptical so wanted to know if anyone has carried this out without any issues?

[TestMangler]

Do share what you've come across...

And he doesn't mean a pic of your sisters face.......

[Pondlife]

Don't do it.

HMRC Hails Victory In Stamp Duty Avoidance Case

It's now fully on the radar.

[Troll]

And he doesn't mean a pic of your sisters face.......

[northernladuk]

Spoke to both my accountant and estate agent about this and the current method is to use the cost of the white goods/furniture/carpet to reduce the actual price of the house so less duty or even dropping you in to a lower bracket. New home sellers do it to get the homes under the first level by throwing in carpets, curtains, white goods etc and then can knock 8-10k off the price so if the house is up for £255000 it becomes £245000+ 10k of goods which drops it in to the 1% bracket.

Problem is HMRC is wise to this and keeps an eye on it and people have been caught for it. Comment from one site says..

‘You have to be realistic about big amounts that will be looked at by HMRC. You cannot be seen to be manipulating the market price [of chattels or the property] as that will not wash with HMRC,’ Hollingworth said.

Interesting read on this site...

How to reduce your stamp duty bill - The Lolly from Citywire Money

[northernladuk]

Oh, just to note both said forget it as well. It's not worth it.

[b0redom]

It's also not allowed any more. I was looking to get a new place a few years ago and was told that it had been stamped down on hard.

[speedo]

It's also not allowed any more. I was looking to get a new place a few years ago and was told that it had been stamped down on hard.

thanks guys...