Transfer Tax

joseph


Joined: 17/04/2008
Posts: 709

Message Posted:
07/02/2009 23:00

Hi All,

Friend of has received email from his solicitor informing him that the government has reduced the transfer Tax by 75% and Capital gains tax by 2%; to wit he has 90 days to take advantage of this cut.



Reading the email it is obvious this reduction only applies to those who:

a... have their ptp certificates

b... properties are finished

c... have no outstanding payments on property

d... have no impediments (mortgage/injunction) on property



The email further goes on to warn "the clent" that there could well be a stampede to take advantage of the offer and he (the solicitor) cannot guarantee that the necessary actions will be expedited if time runs out.... which he the solicitor thinks more than possible. Also warns client that unlike the extended 3 months offered last year for land registry this is a two fold action requiring attendance of both vendor (builder) and purchaser.



Anyone else had such instructions and or thoughts on the matter?



Regards Josep