House buying question

I don't think HMRC has the time; they are over-whelmed with the fiasco of tax credits. It takes them at least 3 attempts every year to get my tax code correct, even though I have very 'straighforward' finances.

I think it would need something else to make them suspicous or they could find out through a random audit.

Personally I don't think it is worth the hassle unless the valuation is close to the SD threshold so it can be done fully legit.

You should also check you're not in an exempt area.

and if you are, dont buy the house :-)

Doh! You haven't brightened up any during your rest, have you?

Irma

PS. house prices down 1.2% on month in one report released today (that's a 30% annual increase for you, right?)

look up evasion & avoidance.

"Tumbleweed" wrote

And 120K in this case isn't an **open market** sale price, either!

"Tumbleweed" wrote

They are being sold on the open market, in "arms length" deals...

So what? If this is a nepotism-type deal, surely if the seller/donor transfers the house to the buyer/donee, with 4/5 of the notional value being sold and 1/5 of it gifted, no SD would be due because there is no SD on gifts.

There would be evasion if there were a "private understanding" that the buyer would pay the seller the other £30k (or indeed *any* additional sum over and above the £120k) in some "unofficial" manner outwith the formal transaction, or if some other reciprocating gift of non-negligible value were envisaged.

That, however, from my reading of what the OP's been saying, is not proposed - the seller here is apparently genuinely prepared to let the buyer have the house for a price 20% below valuation.

This is exactly true, there are no plans for any further payments beyond the