I'm new to the house buying process, so I just wanted to ask two questions?
1) When someone buys a residential property, as their main residence, in the U.K. does the purchaser inform Inland Revenue what amount of the purchase price is a mortgage and what amount is cash? Does Inland Revenue usually require this information, and if so would the purchasers solicitor usually send this information to the I.R., or is the purchaser responsible for providing I.R. with this information?2) If the house is liable for stamp duty, does the purchaser usually pay this to their solicitor who then pays it to Inland Revenue, or is the purchaser responsible for paying any stamp duty direct to I.R.?
Thanks for any advice.
Chris