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Paying for 'Chattels' - what is reasonable in your experience?

2 replies

Zimm · 14/08/2011 11:54

Hi all,

Agreed a purchase price of 258k for a house. Price was originally 267k and they would pay stamp duty, turns out lenders won't allow this so we agreed to 258k, we pay the stamp duty. Annoying to have to pay at only 8 k over threshold but there you go, we want the house. Valuation has now come back at 249k. Told the agent we can't and won't be making up the 9k shortfall ourselves so we have to re negotiate. I have offered to meet them half way by way spending some of the money we would have spent on stamp duty on fixtures and fitting instead. We have also agreed to a purchase price of 250k exactly, we will increase our deposit to fund the 1k shortfall.

They have a range cooker, integrated dishwasher, washer, dryer and fridge freezer. I think it's ok to pay for these (less a discount for depreciation) and also the carpets and curtains. But I'm pretty worried about getting stung for tax evasion in the future. Would just like to hear anyone's experience of doing this and the sort of sum you ended up paying.

Thanks

OP posts:
halfbabyhalfbiscuit · 14/08/2011 14:42

The price paid for any chattels has to be "just and reasonable" (to quote HMRC) and they will investigate if they are suspicious (e.g. if the property is on an SDLT threshold, as this is).

So proceed with caution as you may well be investigated. Also, integrated applicances are very unlikely to be seen as chattels so don't pay anything for them!

Zimm · 14/08/2011 15:09

Thanks. I think we're down the range cooker, light fittings, carpets and curtains then.

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