Stamp duty question-BTL
Discussion
MrManual said:
If I were to buy a Buy to let property through a LTD company as a first time buyer (Managed to find someone to do this). Would this affect my stamp duty rate when buying my own residential property as technically the company owns the BTL and not me personally?
You will hear mixed messages on this.I personally know people who have done exactly what you say (bought their first property as a BTL via an SPV, then purchased their primary residence at a later date in their personal name), and preserved their FTB SDLT exemption.
Some solicitors will insist, conversely, that you need to pay the FTB SDLT if you have ever owned any property in any structure.
Seek professional advice!
22s said:
You will hear mixed messages on this.
I personally know people who have done exactly what you say (bought their first property as a BTL via an SPV, then purchased their primary residence at a later date in their personal name), and preserved their FTB SDLT exemption.
Some solicitors will insist, conversely, that you need to pay the FTB SDLT if you have ever owned any property in any structure.
Seek professional advice!
Best to go ask a solicitor or accountant?I personally know people who have done exactly what you say (bought their first property as a BTL via an SPV, then purchased their primary residence at a later date in their personal name), and preserved their FTB SDLT exemption.
Some solicitors will insist, conversely, that you need to pay the FTB SDLT if you have ever owned any property in any structure.
Seek professional advice!
MrManual said:
If I were to buy a Buy to let property through a LTD company as a first time buyer (Managed to find someone to do this). Would this affect my stamp duty rate when buying my own residential property as technically the company owns the BTL and not me personally?
According to this link the company always has to pay the 3% surcharge so I can't see why you would then ALSO have to pay when you buy for the first time.MrManual said:
22s said:
You will hear mixed messages on this.
I personally know people who have done exactly what you say (bought their first property as a BTL via an SPV, then purchased their primary residence at a later date in their personal name), and preserved their FTB SDLT exemption.
Some solicitors will insist, conversely, that you need to pay the FTB SDLT if you have ever owned any property in any structure.
Seek professional advice!
Best to go ask a solicitor or accountant?I personally know people who have done exactly what you say (bought their first property as a BTL via an SPV, then purchased their primary residence at a later date in their personal name), and preserved their FTB SDLT exemption.
Some solicitors will insist, conversely, that you need to pay the FTB SDLT if you have ever owned any property in any structure.
Seek professional advice!
I am a property investors and my personal opinion (not professional advice) is that, as someone else said, the company is 'limited' and therefore a separate legal entity. For example, let's say you buy a company that operates a factory and also owns a couple of flats nearby for when staff visit for temporary projects. Would seem ludicrous that you then lose your FTB status.
Having said that, sometimes HMRC rules are ludicrous!
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