Avoiding 3% stamp duty

[Turion]

Why would the seller enter into such an arrangement? How could he possibly enforce payment?

tim

1) Get better price
2) Not necessary

[tim123]

1) Get better price
2) Not necessary

I know that there was two question marks. But there wasn't two questions.

tim

[thunderlizard]

In Norway, it's illegal for touts to resell tickets to sporting events, concerts etc. at a higher price. But it's not illegal to sell a package deal (e.g. coach trip + meal + show) that includes the ticket. So you end up getting blokes outside stadiums who'll sell you a kebab for £200 with a ticket included. Maybe you could get the vendor to sell you a £260,000 Spaghetti Bolognese with a free house thrown in.

[NickFitz]

I have heard of ways and means to sell a house worh more than £250K at under £250K and cash balance the remaining money to avoid 3% stamp duty. anyone happen to know more about this out of interest? As only £10K or so over the £250K threshold I do not consider this too cheeky!

I intend to commit tax fraud and thought it would be a good idea to ask how on a web forum which is known to be read by the tax authorities.

[Platypus]

By possible do you mean legal? They are two very different things.

You don't say? I guess the mention of a brown envelope and black money weren't enough of a clue then?

[Turion]

I intend to commit tax fraud and thought it would be a good idea to ask how on a web forum which is known to be read by the tax authorities.

I'm impressed! The taxman is probably in his shed now working on a brown envelope and black money detector.

I say bring it on

PS: This is my last post - there's bound to be a price on my head now. I'm a dispearin' pronto like. Wilslow, you better do same, but with all those clues you have given about your location, I think it's game over for you.

[NotAllThere]

Last edited by Turion : Yesterday at 00:57. Reason: spelling

Was that so you could put incorrect spelling or take it out?

Wilmslow

Wilmslooooooooooooooooooooooooow (canned laughter)

[easyrider]

If you're rich enough then you can always offshore ownership of the house to a compnay, then buy the company (like the spag bol suggestion).

Super-rich dodge stamp duty while families pay tens of thousands | This is Money

I'm in the same situation....the problem would seem to be reliable transfer of funds, some sort of escrow payment would be ideal.

Wonder if the vendor would accept paypal?

[GillsMan]

In Norway, it's illegal for touts to resell tickets to sporting events, concerts etc. at a higher price. But it's not illegal to sell a package deal (e.g. coach trip + meal + show) that includes the ticket. So you end up getting blokes outside stadiums who'll sell you a kebab for £200 with a ticket included. Maybe you could get the vendor to sell you a £260,000 Spaghetti Bolognese with a free house thrown in.

But then you'd have to pay VAT.

[moggy]

But then you'd have to pay VAT.

not if its cold