Buying a Home ‐ FAQ
Apportionment of leasehold service charges
In respect of a leasehold property or a property which has a liability to pay any type of service charge, the amounts will be split (apportioned) between the buyer and seller on completion.
The annual charge will be split so that the seller only pays up to the date of completion and the buyer takes liability thereafter. If you have paid the yearly charges in advance, we will ensure that the buyers share is paid back to you with the completion monies.
Inheritance Tax and Capital Gains Tax
Certain land transactions may attract a liability for inheritance or capital gains tax.
For Inheritance Tax purposes where the value of the deceased person's assets (including the value of property) exceeds the exempt amount a liability may arise.
With regard to Capital Gains Tax, various rates apply depending upon the circumstances.
If you have any queries regarding potential liability in respect of these taxes, please let us know.