WEALTH TAX, LATEST INFO ( article was written 16th June 2008),
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David Stuart
When we completed the form 214 last year we mistakenly used the 2% calculation instead of 1.1%-wrong advice. When we complete the forms this year is there any way we can deduct the overpayment / any help appreciated
Our solicitors applied for a refund as they had previously overdeclare the IBI value. We didn't see the correspondence, so don't know how complicated it was, but we have received the refund. Is it worth going into you local tax office?
Re my earlier query on the addition of transfer tax, notary, registration, fees etc to the property value on deeds for tax calculation. Just wondered if same has happened to anyone else who has had their Form 214 completed by a solicitor, fiscal rep or other third party?
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Had a think about adding the costs to the value and it seems to me the only time you would want to do that is when selling to reduce the gain for capital gaine tax.
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