My buyer wants to pay for F&F to avoid CGLT

[shahjhan]

Hi,

I'm seeling my house and I have recently had an offer from a buyer willing to pay 250K my house and 20K for the furniture. Now I know the furniture, carpet etc. isn't worth 20K, but if he wants to pay 20K for them that's fine by me. No I know he's doing this to avoid paying more CGLT, but are there are come backs for me from the tax man? I'm not gaining anything extra by doing it this way.

Any help would be appreciated.

Thanks,

Shahjhan

[pawncob]

Assuming it's your PPR there are no tax implications.

[shahjhan]

Hi,

Thanks for the reply. I'm sorry I didn't mean CGLT I meant Stamp Duty! He wants to avoid paying 3% Stamp Duty.

Regards,

Shahjhan