SDLTM03750 - Paying Legal costs of vendor
Example 6
I enter into negotiations to purchase a property marketed for sale at 拢415,000. The outcome is that the vendor lowers the price to 拢400,000 and I agree to pay his legal costs. On completion I pay the 拢400,000 plus his legal costs of 拢7,000 (including VAT).
The chargeable consideration for this transaction is 拢407,000 (purchase price plus vendor鈥檚 legal costs). SDLT is charged on what has been given for the property.