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Hi all, First post on the Hub group and looking for some help on auction purchases. I’m looking to purchase a residential property at Auction and my question is do you have to pay VAT on the final hammer price? I’ve read various legal packs on properties, on different auction sites however they aren’t completely clear as to whether of not it is applicable. Is this so they aren’t liable either way? Is it common place to pay VAT? Any help would be appreciated. Thanks all, Regan
Hello, Many thanks for looking at this post. A brief introduction. I'm Mark Jones and have been an estate agent for a number of years. I have recently set up a property auction company that will cover London, Kent and Sussex and hope to be able to discuss and perhaps do some business together in the future. Thanks again, Mark