In the event of tax being due on a sale of a 2nd property ... does the solicitor withhold some of the proceeds in anticipation of the tax. Is that the way things typically work?
Is it possible to get the proceeds gross and pay the tax yourself later?
Thanks,
Pete
No.
All the Solicitor will do is report the sale to the revenue (or some other body) as one that has the potentail for a charge, if the sale is not your main home.
This is exactly how it works. The selling solicitor has no idea what your deductable costs are.
tim
Thanks, stick wrong end of, I had.
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