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How much is the property worth which you are proposing to purchase?
With the recent changes to stamp duty land tax in the UK you will have to pay an additional 3% surcharge if you own another property anywhere in the world. The loophole of off shore companies has been closed off. Any company, including off shore ones will also be subject to the additional 3 % surcharge. as a result Sdlt is £50k.
Sdlt rates were lowered slightly earlier in the year and it may represent better value, tax wise, to acquire a commercial property.
It would not be possible within the scope if this service to advise on tax structures. You would need to retain a cross border tax advisor to consider your personal circumstances in light of any proposed investment.
I hope this helps. Any further questions or queries?
Apologies. I was looking into off shore structures etc. Thus is however better dealt with by an accountant, accountants specialise in tax advice, solicitors are not authorised to give tax advice. I can respond in general terms:
1. Stamp duty land tax on acquisition and potentially capital gains tax on disposal. Any cgt will depend on your accountant 's advice and what reliefs may be available. As to tax on income, you will need to liaise with an accountant.
2. As above.
3. Here it is the value of your shareholding in the company. The assets held by the company do not firm part of your estate.
4. As mentioned above, the property will not form part of your estate only your shareholding. The company will not be subject to iht. You will need to consider the issue of acting as sole director and what happens on death. A second director could avoid issues of leaving the company without an officer on your passing.
Due to your overseas status and desire to use an offshore vehicle I would recommend you speak to a suitably qualified accountant and obtain detailed and specific advice.
Any questions or queries? I am happy to assist further.