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  • Buy-to-Let

    Couple of general questions

    So as a share holder in a company that owns property that loses your first time buyer benefits?

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    Forums are great for sharing information, but sometimes there is misinformation. You will have probably noticed that Debbie has the letters CTA ACA FCCA after her name, she is very well qualified to give advice. I can only speak from my own experience and the qualified advice I paid for, but my daughter has not lost her FTB status by being a shareholder in a company that owns property.

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    A good teacher must know the rules; a good pupil, the exceptions.

    Martin H. Fischer

    People with shares in companies owning properties do not have a major interest in the properties owned by the company

    This was confirmed for the 2010 – 2012 first time buyers’ relief at SDLTM29850.

    Page 9 of below link:

    https://www.blakemorgan.co.uk/wp-content...052019.pdf

    Government guidelines here, but not as clear:

    https://assets.publishing.service.gov.uk...e_note.pdf

    To be pedantic, the 3% additional stamp duty is for corporate bodies not additional residential properties, hence it is charged on the first residential property purchased by a corporate body.

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    A good teacher must know the rules; a good pupil, the exceptions.

    Martin H. Fischer


    Will have a read of that Gary but that Blake Morgan document is too vague to give a definitive answer.

    I've been advised that if shareholders of companies owning properties,  are not First Time Buyers if they buy in the personal name.
    If that's changed then great, won't apply to Help-to-Buy though?

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    My posts are not financial advice, just a rambling guy passing time on a coffee break.
    The team at Bespoke Finance offers advice, including Limited Company Buy-to-Let , HMO Conversion and Cheap Life Insurance.

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