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  • Tax

    Transfer residential property to business?

    Hi all,

    I have just had an offer accepted on my second property.

    I bought my first apartment 9 months ago and now have bought a house that I am moving into and renting rooms out, subsequently renting the apartment as well.

    My existing mortgage permits me to 'port' the mortgage which I am going to attempt so as to aviod early repayment charges.

    My question isgiven the immenant tax changes  should I create a company and transfer my residential property to a company?
    Also would I be exempt from stamp duty due to it being residential at the moment?

    I am ambitious with my property goals and intend to add to my portfolio in the future.

    I appreciate any help.

    Thanks

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    I dont quite understand the question. So give me some leighway.

    I should say though that if your mortgage allows "porting" it is highly unlikely to allow "porting" to a LTD Company.
    In addition SDLT and Capital Gains is typicaly paid as there is no "transfer" of property (in general) it is a Sale (from you) and a Purchase (from LTD Company).
    It would also get complicated, getting a residential mortgage for your home in a LTD co.

    Id talk to a mortgage broker.

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