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Where Taxpayers and Advisers Meet
Overage on Property
I am buying house for £420,000. The house has some land, about 1 acre. The land is landlocked and very unlikely to ever get planning permission and we do not want to develop it anyway, but there is an overage on the land and I can not get any information if this will attract extra stamp duty. Can anyone help clear the fog??
-
Incredulum
- Posts:2795
- Joined:Thu Dec 03, 2009 5:35 pm
Re: Overage on Property
Tell us more about the "overage". Who pays whom what and when?
Re: Overage on Property
Overage payments are normally included as part of the general purchase price and therefore on which SDLT is payable.
Where the amount is unknown a deferral of the SDLT can normally be claimed.
Having said this I am by no means an expert on overage (but have never liked it).
Where the amount is unknown a deferral of the SDLT can normally be claimed.
Having said this I am by no means an expert on overage (but have never liked it).
