We recently advised a client that was purchasing a semi commercial property for £2,000,000.
The property consisted of a shop on the ground floor with four self-contained flats above, all held under a single Freehold title.
Our client’s solicitor had applied the mixed-use rate to calculate a tax charge on this transaction of £89,500.
Upon further review, we determined that there was an alternative way to calculate the tax liability for the transaction, which reduced the clients tax bill to £47,900, saving them £41,600.
