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What is the world coming to?

  • 13-01-2006 10:33am
    #1
    squire1
    Registered Users, Registered Users 2 Posts: 730 ✭✭✭


    Recently sold a house and have been chasing the Estate Agent to get his fee sorted out and get the deposit off him.

    Managed to get speaking to the boss (primary partner) today and he suggested I pay him his 1% plus advertisement in cash and he will not charge me VAT.:confused:

    Sort of caught me off guard as I didn't think this kind of thing happened anymore. Up to this I have found dealing with his firm very professional and had no problems during the sale.

    First of all, what is the VAT rate for these fees. Is it 21% or 13.5%?
    Secondly, can/should I do this. Would I be liable in any way?

    He put the pressure on a bit by saying I need to call down to him this evening to get it sorted.


Comments

  • #2
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    21%.

    If the suggestion is that you pay cash 'under the table', remember that apart from the illegality by both you and the auctioneer, you cannot claim this as a deduction if you decide to sell the house and are faced with a CGT bill at a later date because it will be 'outside the system'. I am aware of auctioneers who deal in cash, but frankly while I don't lose sleep over it I would advise anyone to steer well clear.


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