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AndyLynnW
Joined: 05/12/2008
Posts: 61
Message Posted:
22/01/2009 20:37 | | Join or Login to Reply | Message 1 of 6 in Discussion |
| We are buying a property in Catalkoy and nearing signing the contract. The Estate Agent stated that the VAT is due when we have our Permission To Purchase and ownershipo is transferred. We have been asked for the VAT on taking possession of the proerty paying it to the vendor ( A development Company) who will give us a receipt.
What is right procedure?
Mnay Thanks In Anticipation! |
AndyLynnW
Joined: 05/12/2008
Posts: 61
Message Posted:
22/01/2009 21:24 | | Join or Login to Reply | Message 3 of 6 in Discussion |
| Many Thanks ! That answers our question. |
lisajane
Joined: 01/09/2007
Posts: 6
Message Posted:
23/01/2009 01:25 | | Join or Login to Reply | Message 4 of 6 in Discussion |
| Hi Andy/Lynn, this is Lisa and Lee, we have property bought some 4 years ago and interested to hear what you have learnt offline and on email if possible, perhaps we can share findings. I have paid for property just waiting deeds and trying to contact lawyer to find out about all of these discounts to try and finalise so be great to hear from you both and where you are - perhaps a beer if we are there at the same time...
email add lisa201168@aol.com
thx
lisa and lee |
Wiser
Joined: 30/07/2008
Posts: 796
Message Posted:
23/01/2009 09:53 | | Join or Login to Reply | Message 5 of 6 in Discussion |
| It used to be that you paid the vat and purchases tax when you got your title deeds. This has now changed. As of last year they re-instated the law that you have to pay the vat when you take possession of the property. This is due to the government not receiving vat for years whilst people wait for their title deeds and maybe even sell the property again etc. You need to confirm this with your solicitor as it may have changed again!!! |
negativenick
Joined: 10/11/2008
Posts: 6023
Message Posted:
23/01/2009 11:13 | | Join or Login to Reply | Message 6 of 6 in Discussion |
| mess 1 - DON'T DO IT !!!!
Do not buy here until the specific performance law is changed !!
Bung your dosh in the bank and use the money to rent a property here.....
Nick |
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