.png)
.png)
Stamp duty practices
In his article in Taxation, 2 August 2001 at page 442, under the heading 'Professional fees payable by purchaser', Matthew Hutton commented that if the purchaser of a property were to pay the vendor's solicitors' fees, that would constitute part of the consideration for stamp duty purposes. While correct as a matter of law, it has been pointed out that this is not a point taken in practice by the Stamp Office. The transfer document will state the price paid for the property and it is on this that stamp duty is payable.
Stamp duty practices
In his article in Taxation 2 August 2001 at page 442 under the heading 'Professional fees payable by purchaser' Matthew Hutton commented that if the purchaser of a property were to pay the vendor's solicitors' fees that would constitute part of the consideration for stamp duty purposes. While correct as a matter of law it has been pointed out that this is not a point taken in practice by the Stamp Office. The transfer document will state the price paid for the property and it is on this that stamp duty is payable.
Payment of the vendor's professional costs by the purchaser might be relatively rare. Much more common would be payment by a tenant of the landlord's costs and the same point would apply here.
In the article 'Caveat Emptor' in the issue of 6 September...
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
