Builders Taxes and VAT

lionheart


Joined: 29/06/2008
Posts: 58

Message Posted:
06/08/2009 05:25

Help needed,



What are the taxes and vat, that a builder would have to pay on a 50,000GBP 3 bed, ground floor apartment?

sunnyday


Joined: 14/03/2008
Posts: 269

Message Posted:
06/08/2009 09:38

Buider has to pay 4% stopaj tax approx £2000 (but it is paid in TL at a rate depending on the year of the contract).



You have to pay - VAT of 5% to the builder £2500. Make sure that you get a Fatura (VAT invoice) from him.

- property transfer tax 0.75% approx £375 (but also paid in TL). This is paid to land registry on the day of transfer

bevbrighty


Joined: 15/02/2009
Posts: 24

Message Posted:
06/08/2009 11:05

for all,



I was contacted by my solicitor GURKAN GURKAN to transfer funds of £4775 to pay taxes ,handling fee, vat ,as deeds are ready to go into my name. not happy with the break down they sent but still paid

dose anyone use Gurkan Gurkan Solicitors they are near the courts in Kyrenia, they thrive off us english people if it wasent for us they would have no work ..........fed up sorry guys for sounding negative.