Act now to avoid VAT rise

Northants Evening Telegraph - Property - - YATES WALKER -

Prop­erty sell­ers need to act swiftly in or­der to en­sure they keep their sell­ing costs as low as pos­si­ble, says lo­cal es­tate agency haart.

The Govern­ment has an­nounced that VAT will rise from 17.5 per cent to 20 per cent from Jan­uary 4, 2011, and the in­crease will have a sig­nif­i­cant im­pact on sell­ers.

Man­ager Deb­bie Win­sor said: “If peo­ple put their prop­erty on the mar­ket now, they will have ev­ery chance of avoid­ing the VAT in­crease in Jan­uary.

“Once a sale has been agreed, it takes on av­er­age 13 weeks for it to be fi­nalised, so our ad­vice is, if they de­lay, they will be pay­ing sig­nif­i­cantly more.”

The VAT in­crease will not only im­pact es­tate agency fees and con­veyanc­ing costs, but will also mean that sur­veys and land registry and search fees could be more ex­pen­sive.

Deb­bie added: “The rise will mean that mov­ing costs are likely to in­crease, so ev­ery­thing from hir­ing a re­moval van to re­dec­o­rat­ing or fur­nish­ing a new prop­erty will be more ex­pen­sive.

“The prop­erty mar­ket is ex­tremely buoy­ant at the moment.”

For more in­for­ma­tion, call the Rush­den branch on 01933 418444, or visit haart.co.uk

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