Commerical Building - Stamp Duty

[hobo]

Looking at purchasing some offices. Cost is £300k.

I understand the stamp duty to be different to domestic properties but am unsure what it is.

I will be buying it through a limited company, it will be my offices & it is the first commerical property I have bought.

[hobo]

Oh, just to add its not a new build. Its a dereclict building.

[pdV6]

Rates are here: www.hmrc.gov.uk/so/current_sdlt_rates.htm

Note that if you have to pay VAT on your £300k, the Stamp Duty applies after adding the VAT (thieves!)

So, £300k @ 3% = £9k stamp duty
£300k + VAT = £352,500 @3% = £10,575 stamp duty

[hobo]

Thanks for that.

I was getting confused with it saying LAND.

Anyway, sorted now.

The property is not subject to VAT as the owners decided not to register it for VAT when he purchased it a couple of years ago & therefore I do not have to pay it now (which is a bonus).

I've done the deal in the last hour. Its mine, all mine



well subject to surveyor & banks being nice