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If an offshore company gifts its residential property to connected

Customer Question

if an offshore company gifts its residential property to connected parties of the shareholder of the offshore company is there stamp duty payable
Submitted: 1 year ago.
Category: Tax
Expert:  bigduckontax replied 1 year ago.
Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to help you with your question. Here is the advice from the Gov UK web site on this matter: 'If the transfer is a gift and there’s no consideration, SDLT doesn’t normally apply.' So there you have it; no Stamp Duty Land Tax. Were you transferring property to the company then there is a possibility of a SDLT liability arising, but that is not the case here. I do hope that you find my reply of assistance.

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