Buyer not VAT registered and Seller has made the VAT election. Doers this transaction simply makes the transaction 20% more expensive for the buyer or are there other remedies open to the buyer? Can anyone please advice.
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Not only will the purchase price include 20% VAT but depending on the price the SDLT charge may also be 20% higher than it might otherwise have been.
You don't say what the property is to be used for, but there may be one or two options available to mitigate the VAT charge.