What Does a Purchase Completion Statement Mean When Buying Property?

What Is a Purchase Completion Statement?

When you complete the purchase of a property, your solicitor issues a document called the purchase completion statement.

This document shows:

• The price of the property
• Stamp Duty Land Tax (SDLT) due on the purchase
• Legal and disbursement fees
• Any other associated costs
• How the purchase was funded (mortgage, personal funds, bridging finance, etc.)

What Will You See on a Completion Statement?

Here’s what a standard completion statement typically includes:

1. Property purchase price
2. Stamp Duty Land Tax (SDLT) amount
3. Legal fees (conveyancing, land registry)
4. Search fees (local authority, water, environmental)
5. Bank transfer fees
6. How funds were received (mortgage advance, personal deposit)
7. Balance required from the buyer to complete

Example Breakdown:

• Total cost of acquisition
• What you paid personally
• What was borrowed (for interest relief)

Why You Should NEVER Skip This for Tax

We’ve seen investors lose out on thousands because they:

• Forgot to give their accountant the full statement
• Didn’t include mortgage fees hidden in the gross advance
• Couldn’t justify SDLT or legal fees as deductible costs

For example, mortgage arrangement fees are often embedded in the total mortgage advance — and don’t appear clearly on the net funds received. If your accountant doesn’t see the completion statement, they might miss those deductible costs.

How to Use It for Record Keeping

Save your completion statement:

• As a PDF and hard copy
• In a folder titled by address
• Alongside mortgage documents, EPCs, and tenancy agreements

This forms your full audit trail.

Accountants Use It For:

• Calculating allowable acquisition costs
• Confirming property entry value for CGT
• Understanding the funding mix for mortgage relief

What Can Go Wrong Without It?

• Missing deductible expenses (e.g. mortgage fees, bank transfers)
• Paying higher CGT due to underestimated acquisition costs
• Confusing accounting entries — especially if you used multiple funding sources (bridging, mortgages, JV capital)

Completion Statement Checklist

Before you file it away, make sure your statement shows:

• ✅ Property price
• ✅ SDLT paid
• ✅ All legal and search fees
• ✅ Breakdown of mortgage vs. personal funding
• ✅ Net balance to complete

Talk to a Property Finance Expert

A completion statement is more than just legal paperwork — it’s a critical part of your financial documentation. Used properly, it can save you thousands in tax and ensure your property business stays compliant.

We help landlords, investors, and developers:

• Organise their financial records
• Identify missed reliefs
• Plan long-term tax strategies with confidence

Ready to Optimise Your Property Portfolio?

Let’s make sure your documentation is working for you, not against you.

👉 Book a free discovery call with our property specialists today.

We’ll help you make sense of your paperwork and unlock smarter tax outcomes.

Further Reading

1. Stamp Duty Land Tax (SDLT) – GOV.UK

   • Official guidance on when SDLT applies, rates, and exemptions.

2. Capital Gains Tax on UK Property – GOV.UK

   • Explains how Capital Gains Tax works when selling UK property, and how purchase records like completion statements are used.

3. Buying a Home: Step-by-Step Guide – MoneyHelper

   • A helpful breakdown of the property purchase process in the UK.

4. What to Expect From Your Conveyancer – The Law Society

   • Information on legal documentation during property purchases, including completion statements.

5. HMRC: Property Income Manual – Capital Expenses

   • Clarifies what purchase-related costs are deductible from property income.