Hello
I am interested in buying a property which has been extended to include a second kitchen and enough space that it could conceivably be described as a having a separate, self contained unit (annex).
It is currently classified as a single house with one tax band but there is an improvement indicator on the property.
So my question is at what point in the buying process will the VOA reassess the property, and would stamp duty be calculated on the overall property as it is currently banded or will it be calculated based on a new assessment from the VOA? Can they come after more stamp duty post sale?
I understand that if it did get classified as an annex and it were valued at less than 1/3 of the total value it would be exempt anyway. But worst case scenario there is potential for it to be more over which could mean a 20k extra bill.
Thanks for your help.
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