What stamp duty is payable on hotel purchase

You are buying a business and the business consists of:

1) Land & Building 2) Beds and Curtains and Cups and Saucers and Blankets and Ovens and Kitchen Utensils

You pay stamp duty on the building and not on the cups and saucers.

Any difference between what the above is worth (the value of the land and buildings will be referred to the District Valuer, so you won't know how much it is until after you've bought the property) is Goodwill, and there is no stamp duty on Goodwill.

That was a statement. Why does it end in a question mark?

Those are questions, yet they have no question mark. Are you sure you have what it takes to run a hotel?

There is no stamp duty on goodwill. There is no stamp duty on the motor either, just on the value of the building, not on the rest of the value of the business.

Sorry but after a long telephone call to the Stamp Duty Helpline there is stamp duty on certain types of goodwill. So how clever are you telling me how to end a statement?

Hi and thanks for your reply but I have just posted another update as I am told on certain types of goodwill there is stamp duty. I thought there was not and so did one of my solicitor friends so it just goes to show! Apparently last November IR decided to tighten up on this type of rule. Ken

"Certain types of Goodwill" is interesting - according to HMRC they include "Dog", "Cat", "Rabbit"?

A Dog follows its master and the Goodwill leaves when the owner leaves, A Cat stays in its territory and if the owner moves the Goodwill stays. A Rabbit is loyal to no one and the Goodwill arises by being near to rabbits.

Apart fromt that, you'll need to elucidate or post your update again.

I don't know why people can't write proper English and punctuate it properly, whether or not they are being given the wrong answers to their questions.

Rob Graham

So all your posts are punctuated properly? Just looked at some and they are not - so shut it!

Shame he wasn't there yesterday as a lot of stress could of

"could HAVE been avoided"

Rob Graham

"well UP ON the rules".

:-)

Do you mean he's a "happy chappie" (looking 'well'/healthy), sitting atop a large pile of 'rules', -OR- that he is thoroughly covering ("well upon") the rules as he sits on them ... ?

"Ronald Raygun" wrote

Ah, I see that the pile must be absolutely mountainous, but that he is a good way up ("well up") the slope!

"Ronald Raygun" wrote

You do? Whilst we're agreed that "well upon" is clearly wrong in this context (wrong in the sense that it doesn't convey the meaning Ken obviously intended), do you not agree that one meaning of (the adjective) "up" is "familiar", and hence that "to be up on something" means to be conversant with it, and that to be well up on it means to be thoroughly so?

"Ronald Raygun" wrote

Of course, but do you not also agree that to be "well up on" something can also mean they are a good way up the slope?

I didn't say that your interpretation was wrong, I merely gave another option...

Indeed it could, if there were a slope. But in the present context, there was no implied slope (only your mischievously inferred one) up which he could have been a good way.

"Ronald Raygun" wrote

How many mountains do you know *without* a slope? ;-)

"Ronald Raygun" wrote

Even for an " absolutely *mountainous* pile " ?

"Ronald Raygun" wrote

Mischievous? Moi? Pas!

What mountains?

Ken said his solicitor was "well upon the rules", which I corrected to "well up on the rules". There was no mention of piles or mountains or sloping rules until you introduced them *later*.

Let's not get sidetracked onto medical conditions, OK?