Fixtures and fittings

[niza]

Sorry for the basic question. I am a FTB and am having some difficulty. I am trying to buy a property just over £250,000 and have heard that you can pay the amount above £250,000 legitimately as "Fixtures and Fittings". As far as I know the vendor just makes a list of F+F and gives them the true second hand value which is payed separately thereby reducing stamp duty payment from 3% to 1%. However, what can actually be included within F+F? Some people have done the deal by including lighting fixtures, kitchen units and appliances and all flooring to reduce this. Is this true or completely illegal.

Thanks in advance

Niraj

[Nigel Lord]

Niraz

As a rough guide, fixtures and fittings are items that are movable and do not form part of the structure of the building. i.e. you could theoretically remove them and use them elsewhere, but they are not an essential part of the building structure.

Therefore central heating, kitchen units, sanitary ware and carpets are allowable, doorrs, windows, floors, tiles, pipes etc are not.

Nigel Lord
Lord Associates
Taxation & Business Consultants
Caxton House
Old Station Road
Loughton
Essex, IG10 4PE
020 8418 9101 & 07769 931852
mail@lordassociates.co.uk