Clarkson’s farm

[mushroom 13,261]

Binged watched a few episodes....

He's got a fuuckton of hares knocking about

[Gypsydog94 4,614]

1 hour ago, mushroom said:

Binged watched a few episodes....

He's got a fuuckton of hares knocking about

And roe

[NEWKID 27,584]

On 18/06/2021 at 09:04, dillydog said:

Well it's still all up in the air, it turns out that the contract of sale I've signed was a commercial sale contract and it leaves me liable for VAT ! 

It was being marketed as residential so I've put my solicitor onto it and we're waiting for a new contract. Lifes never straight forward,  it seems that everyone wants their pound of flesh, even if I dodge the VAT I'm now going to miss the stamp duty holiday  

Have you managed to sort it mate?

[WILF 47,716]

Sounds amazing @dillydog , 63 acres is a chunk of ground.

Good for you mate 

[Qbgrey 4,160]

On 18/06/2021 at 09:04, dillydog said:

Well it's still all up in the air, it turns out that the contract of sale I've signed was a commercial sale contract and it leaves me liable for VAT ! 

It was being marketed as residential so I've put my solicitor onto it and we're waiting for a new contract. Lifes never straight forward,  it seems that everyone wants their pound of flesh, even if I dodge the VAT I'm now going to miss the stamp duty holiday  

Sounds like a nice bit of ground,I'm in the same boat  ,what to do with it,I don't really want loads of people all about the place,pain in the arse,asking to borrow stuff,park my caravan,trailer,etc,etc ,always wanted to dig a large fishing lake,may still do,at the minute a farmer mate sows wheat,barley etc in it just to keep the ground in use,and me and my lad get a few pigeons on it.lots of people are growing pumpkins,then do a p.y.o pumpkin days.serious dollar.

[dillydog 8,469]

5 hours ago, NEWKID said:

Have you managed to sort it mate?

In short no, they've dragged their feet until the last minute and tried to change it to mixed use, according to form there's no stamp duty holiday on that category and I'm now liable for 26k of tax. Monday morning is my last throw of the ,  they can either change it to what they marketed it as (equestrian) or half the tax with me or he can shivering it right where the sun doesn't shine !

I honestly think he's trying to dodge capital gains tax by unloading it as a business 

[dillydog 8,469]

2 hours ago, sid g said:

is the problem vat ? 

No mate, the VAT would apply with a business sale, it was sold as a equestrian property which is residential, if we beat the stamp duty holiday I would of paid 8k in stamp duty. Because they tried to palm me off with a business contract which would of left me liable for VAT it's gone down to the sure I'm the stamp duty holiday. They agreed over the phone to change it to residential again and they've done everything possible to dodge my solicitor until Friday evening when they came up with the mixed use contact !

So we'll now have to pay 26k instead of 8 !

Edited June 26, 2021 by dillydog
Spelling

[NEWKID 27,584]

20 minutes ago, dillydog said:

No mate, the VAT would apply with a business sale, it was sold as a equestrian property which is residential, if we beat the stamp duty holiday I would of paid 8k in stamp duty. Because they tried to palm me off with a business contract which would of left me liable for VAT it's gone down to the sure I'm the stamp duty holiday. They agreed over the phone to change it to residential again and they've done everything possible to dodge my solicitor until Friday evening when they came up with the mixed use contact !

So we'll now have to pay 26k instead of 8 !

Shit that mate...

Is the VAT at reduced rate for equestrian or completely exempt?

I guess they prefer to sale commercial for their own tax planning, lose in corporation  tax instead of personal gains??

[dillydog 8,469]

I'll speak to my solicitor on Monday,  residential is low tax, with the holiday it would only be 8k, the mixed use is 26k  the VAT if I bought it as a business would be 140k !

I wouldn't mind if everything was done and tidy, it'll take what I've got left in the pot to tidy the place up though. 

[Neobliviscaris1776 1,998]

47 minutes ago, dillydog said:

I'll speak to my solicitor on Monday,  residential is low tax, with the holiday it would only be 8k, the mixed use is 26k  the VAT if I bought it as a business would be 140k !

I wouldn't mind if everything was done and tidy, it'll take what I've got left in the pot to tidy the place up though. 

Good luck.

"Land, it's the only thing that matters. It's the only thing that lasts." Gone with the wind

[Gypsydog94 4,614]

52 minutes ago, dillydog said:

I'll speak to my solicitor on Monday,  residential is low tax, with the holiday it would only be 8k, the mixed use is 26k  the VAT if I bought it as a business would be 140k !

I wouldn't mind if everything was done and tidy, it'll take what I've got left in the pot to tidy the place up though. 

Good luck to you! 

[NEWKID 27,584]

57 minutes ago, dillydog said:

I'll speak to my solicitor on Monday,  residential is low tax, with the holiday it would only be 8k, the mixed use is 26k  the VAT if I bought it as a business would be 140k !

I wouldn't mind if everything was done and tidy, it'll take what I've got left in the pot to tidy the place up though. 

Hope you get it sorted mate, good luck 

[WILF 47,716]

3 hours ago, dillydog said:

I'll speak to my solicitor on Monday,  residential is low tax, with the holiday it would only be 8k, the mixed use is 26k  the VAT if I bought it as a business would be 140k !

I wouldn't mind if everything was done and tidy, it'll take what I've got left in the pot to tidy the place up though. 

f***ing hell !!......700 large would buy you most of Leitrim ! 

[dytkos 17,821]

Best of luck with it

Cheers, D.

[dillydog 8,469]

Moves back on, the old fallers agreed to drop the price by 10k, I felt guilty as sin for asking him to take the knock but it's still only half each. The wifes happy and at least she hasn't got to keep her horses on the shithole where she's at now through another winter.