Does the stamp duty include VAT?


Quick Answer

Money paid as stamp duty tax does not include the amount due for value-added tax (VAT). VAT is included in the calculation for how much stamp duty tax is charged. It is considered a chargeable consideration that can reduce the amount of stamp duty tax due on the property transaction.

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Full Answer

Chargeable considerations include most sums paid toward assets that make up the property including renovations, buildings, equipment and amounts paid for repairs or upkeep. Stamp duty tax is figured and payable generally at the time of the sale or transfer of property. In some instances, stamp duty can be paid partially at the time of property transfer with the remainder due at a later date.

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