Purchase Tax

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19 Feb 2016 22:07 by tteedd Star rating in Hertfordshire & Punt.... 975 posts Send private message

We decided to sell our flat and buy another. The first sold in Feb last year and our abogado bought the second for us in May.

My sums on purchase went a little adrift as purchase tax had gone up to 10% (from 7) in the four years we had had the first property. Never mind I thought, until my property was valued at nearly twice what I had paid for it. The purchase price was in line with that expected in the current market.

I paid as my abogado told me that the costs of not doing so could be crippling and that if the results of other peoples legal action against the Valenciana administration succeeded then he would claim my tax back.

I notice that on a 2012 post someone claimed that the costs of challenging these decisions was not high.

I would be pleased to hear from anyone with experience of challenging the tax or anyone who knows of any successful case.

Ted





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