Vague question

[Scunner]

Well not fully Anne, if you had a lower value on your Tapu when you bought it meant you paid far less than the true value, hardly being shafted. 

[sadler]

We had a much lower figure on our Tapu than we actually paid. I thought that was common practice and Was tax evasion by the vendor!   

[Scunner]

By the purchaser

[Anne]

Well not fully Anne, if you had a lower value on your Tapu when you bought it meant you paid far less than the true value, hardly being shafted. 

What we paid and what is written on our tapu is world's apart  Keith.  So we will pay tax on a much bigger profit than we will actually make if I am understanding this correctly.
So yes, shafted again. 
Just as we were with the road tax and every year when we pay our 'council tax.  We pay a good percentage more than even the three beds on our site and the road tax was more than double the nearest to us. Absolutely sickens me at times how they get away with it

[Scunner]

So we will pay tax on a much bigger profit than we will actually make if I am understanding this correctly.

It’s nothing to do with profit (or loss) at all Anne. Just value at time of sale.

[daveG]

In Oct 2017 having called into our bank we were advised the account had been temporarily closed, due to outstanding tax!! Somewhat taken aback we were told to sort it out with the tax office! Eventually we discovered that the taxman had gone back to our purchase  (tapu 2004) which showed a discrepancy with the value quoted. The only way to re-open our bank account was to pay the fine, which we duly did keeping our receipts of payment.

[McGroogle]

So lets say someone bought a property for £40K, 20 years ago and got the Tapu based on this figure.
Now they decide to sell their property for an agreed amount of £80K. How much tax do they pay? 4% on the sell figure of £80K?

[KKOB]

Yep.

[Anne]

Thanks Keith.  Got it  now, although it is just another way for Turkey to make money as usual. 
Can someone confirm if this is on top of the usual estate agents fees.  If so that's quite a sum from the sale 😣

[KKOB]

Yes it is.

So, you'll lose 7% ( 4% tax, 3% agent's fee ) of whatever you get on the sale.