How much will it cost to acquire a commercial property (additional to the purchase price or rent)?
Apart from your solicitor’s fees and VAT, there will be some additional expenses just as there are when buying a home. There will usually be fees for making enquiries/searches of the local authority, companies house etc. There may registration fees (if a company is entering into a mortgage or if the property is freehold or held on a lease over 21 years). There may be VAT and Stamp Duty to be paid. Stamp Duty is payable on the purchase of a freehold property at the same rates as domestic property: it is also payable upon premiums paid under leases and on any rent.
