Stamp Duty – Legal Ways of Avoiding It

March 25, 2012 by  Filed under: Taxes 

Stamp duty is the tax you will be required to pay when purchasing property and it is mostly determined by the purchase price of the property which of course tells of the property value. This means that the duty rates vary from one property to another. The tax is at time so high that most people find it hard to complete the transactions since they will need to dig deeper into their pockets. It is however very possible to avoid paying the tax through legal means.

Stamp duty mitigation

This is one of the legal ways that you can use to avoid paying the duty tax. It is a service that is made available by tax planners and accountants to reduce the payable duty on the property. It is a legal process and uses the various techniques in finance to decrease property value hence reducing the stamp rate at the same time. You will find it possible to save money through the legal process with some instances even ensuring that you do not get to pay any tax for the purchase.

Carbon neutral homes

This is the most recent way of avoiding duty. It is something that was introduced to encourage people to switch to renewable energy thereby leaving the environment safe. Businesses and home using renewable energy such as solar systems get incentives and the tax system can also be used to encourage continuity and attract more people. This means that it is possible to avoid stamp duty when purchasing a home that has been rated to have zero carbon. There is however a purchase price that will attract the removal of the taxes. There also needs to be a certificate proving that indeed the home is free from carbon for you to avoid the taxes.

Right to buy

This is property buying scheme which will offer you the chance to have the stamp relieved when purchasing the property. The right to buy scheme is a scheme that works the discount offerings to the purchaser when he has rented from a public sector like local housing authorities. The right to buy has enabled many people to buy homes and avoid the heavy taxes that could have otherwise applied when purchasing from the market a similar house. When you have all your facts right and have the right people to help you with the process, it becomes easy to avoid stamp duty is a legal manner.

If you want to legally reduce your Stamp Duty exempt on purchases, Using a specialist tax planning approach can help to Avoiding Stamp Duty. Learn about the Stamp Duty Mitigation and see what people in and out of your professional network have to say about it.

Article Source:
http://EzineArticles.com/?expert=Steve_K_Davis

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