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  • Tax

    Transferring property to Ltd Company

    Hi all, I currently have a property under my name and wanted to move it into a Ltd company before the tax changes take place in 2021. Is there anyone who I could get in touch with, who could offer me advice on the best way to carry out this move? Thank you

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    (*Moderator note: Comment removed as member has not passed probation and therefore cannot share contact details*).

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    (*Moderator note:  Comment removed as member not passed probation and therefore cannot share contact details*).

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    First its not a Transfer

    You are selling your property to a Company which you are the shareholder

    all the costs of a normal sale Solicitor

    The Company will purchase the property and it will have all the costs on purchase

    I have just arranged the sale of a property into my Co

    Selling price

    £62500 

    Solicitors cost of sale £500

    Purchase fees

    Solicitor £1500

    Valution fee £370

    Arrangement fee Mortgage £1000

    Stamp Duty 3% £1875

    CGT Nil because I have not gone over the allowance of £11500

    So in round figs its cost me £5245.00

    CGT is the killer if you have made a gain so do the figs


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    Learn Change and Adapt ?????


    I have a similar priced property. Would you mind sharing the thought process behind the decision.   Cost Vs paying the tax.  And ROI affected.

    My interpretation of the figures suggest a sale would have been better option.

    . Was it unencumbered and very healthy rental cashflow. ?  Hence reason for keeping.

    The solicitor purchase fees, Val fees and stamp duty lenders fees represent a significant cost which would take a long time to recroup.

    1500, 300 + 1000 +

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    Reintroduce full mortgage interest relief and drop the 3% stamp duty surcharge

    PLEASE sign Petition Here

    *Every Action or Inaction has consequences.

    The tax changes (S24) have already started this year, but are being phased in: 25% in 2017/18, 50% in 2018/19, 75% in 2018/20 and will be fully in effect in 2020/21.

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    Our family has various HMO and are collectively consolidating into a Limited Company. As two of the younger sons have never owned a property nor have had any interest in any property would the directorship of a property owning company preclude them from the under 300k stamp duty concession should they buy a house for their own residence?

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    If they are share holders they would also have to pay the additional 3%

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    Hi Harsh,

    Our tax partner RITA would be delighted to assist you.  Click on the banner at the top of the thread for details. Smile

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    [Image: 4995468760_6be86655d4_t.jpg]
    general operations director, site owner and moderator - propertytribes.com