House Sale & Purchase
Are you buying your dream house? If so, you may need to pay VAT on your search fees!
27 Jan 2017
You have found your dream house….your offer has been accepted by the Vendor…… the mortgage application has been approved….. and finally….. you have instructed a Solicitor to carry out the conveyance – on a fixed-fee basis.
You would be forgiven in thinking that was the last of the expense and it will only be a matter of time before you are moving into your dream house.
Attention – HMRC has proposed that VAT should be charged by Local Authorities on their Official Local Authority Search result. Therefore, Local Authorities across the Country are slowly commencing to charge VAT on the Official Local Authority Search Result you will require as part of the conveyancing process.
This means that the fixed-fee you obtained from your Solicitor may have just increased. #futhercost!
When you contact Baines Bagguley Penhale Solicitors to discuss the purchase of your dream house, we will not only provide you with a fixed-fee, but will also check to ensure the search prices quoted to you are not subject to change. #furthercost #nastysurprise
The full Law Society Article can be viewed here.