Tax amount selling property

moritzkatz


Joined: 27/02/2011
Posts: 69

Message Posted:
02/05/2011 14:29

Who knows what percentage of tax needs to paid when on sells their property



I have been told one can claim a one time exemption with no tax necessary



Others have told me it is 4.5% and other have stated 6%



Does anyone know the truth ? Assume I could ask land reg . Office or tax office



but somehow feel this is guarded information provided at the last minute..

Wiser


Joined: 30/07/2008
Posts: 796

Message Posted:
02/05/2011 14:34

If you are a non professional person you will need to pay 3% tax. If it is your first sale and you have taken the kocan in your name you are exempt from paying tax. If you do not have your kocan it does not count as your first sale as the property is not in your name.

stilluvithere



Joined: 03/12/2008
Posts: 765

Message Posted:
02/05/2011 14:36

It is 3.5 % if you have to pay.

moritzkatz


Joined: 27/02/2011
Posts: 69

Message Posted:
02/05/2011 20:42

Thank you everyone for your replies . . . . My understanding was because this is our first property we would not need to pay tax if we are not buying another property However the Lawyer claim the amount will be 4.5% of sales price recently reduced from 6% hummmmmmm

stilluvithere



Joined: 03/12/2008
Posts: 765

Message Posted:
02/05/2011 22:25

Sack the lawyer go to Unsal Gurok the noter and save a lot of money. If it is your first sale you do not have to pay one tl. FACT. I sold a house 4 years ago and didn't pay, my daughter sold a flat last week and didn't pay. Even if did have to pay it is still 3.5%

mrsgee


Joined: 23/06/2009
Posts: 396

Message Posted:
02/05/2011 22:33

You can choose to pay nothing as a one off......if you buy another house and sell that then you pay capital gains tax....it is your choice as to whether you use the option not to pay on a sale, but you can only use that option once.

stilluvithere



Joined: 03/12/2008
Posts: 765

Message Posted:
02/05/2011 22:49

that is exactly right, the same way as when you purchase you have the option once to pay 3% and not 6%. I am about to use my 3% and this is the third place I have bought

ozankoys


Joined: 20/06/2008
Posts: 905

Message Posted:
03/05/2011 09:05

You have not replied to Wiser - is the Kocani in your name? If it is not then you are not the legally the seller and the tax paid depends on the status of the registered owner.

Tenakoutou



Joined: 27/07/2009
Posts: 4110

Message Posted:
03/05/2011 09:29

'Status of the registered owner' - if he/she is classed as 'professional', it's 6% tax, I think. Shouldn't any estate agent be able to give you the exact answer?

flossie44


Joined: 05/03/2009
Posts: 223

Message Posted:
03/05/2011 11:10

When we sold our flat we had to pay 6% because we did not have our deeds and the builder was a professional. I think Naomi Mehmet has put a paper regarding this on her site and all is spelt out clearly.

It is worth noting that if you sell including furniture etc that is not allowed for when calculating CGT. It is worth trying to negotiate this separately



flossie