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House re sale: What tax is payable?

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Garythegeezer


Joined: 05/02/2007
Posts: 102

Message Posted:
08/09/2009 11:51

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Message 1 of 4 in Discussion

Hi,



Other than estate agents fee's what tax would be payable on a 100k sale by the Vendor?



Thanks in advance



Regards

Gary



Codger


Joined: 03/04/2009
Posts: 153

Message Posted:
08/09/2009 17:01

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Message 2 of 4 in Discussion

Gary



Would suggest you leave out the two words ' re sale ' and post this request on the main forum, you should get a few responses.



Codger



dozza67


Joined: 11/07/2008
Posts: 607

Message Posted:
09/09/2009 07:34

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Message 3 of 4 in Discussion

I spoke with my solicitor who is one of the very few honest ones on this Island and she assured me that the vendor does NOT pay any other fees other than to the estate agent and solicitor. The reason I asked her was because some friends of ours were asked by their solicitor to pay 5% KDV on the price of the house sale. That probably went into his back pocket!!



Wiser


Joined: 30/07/2008
Posts: 796

Message Posted:
15/09/2009 12:38

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Message 4 of 4 in Discussion

If the house is a re-sale where the present owners have paid the kdv and had the deeds then there is just your purchases tax to pay. If however the present owners have not paid the kdv the purchaser could be liable unless he stipulates that this cost has to be down to the vendor prior to contracts being signed and drawn up.



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