Thanks for your question - I am Sam and I am one of the Uk tax experts here on Just Answer.
Could you advsie what the solution is and I can advsie re the capital gain and Stamp duty position (although may need for more info re stamp duty)
I do apologise the extra bit re the limited company did not appear with the first post.
Limited companies cannot just own property they have to trade in a business- and whilst they can own the freehold side of mattes- the rental income still is just that rental income.
But the act of transferring the freehold will create a capital gain and stamp duty as its a legal change of ownership (transfer) and yes the 3% additional stamp duty will apply again as change of legal ownership and not your main residences.
You cannot run the rent through the company I am afraid.
I am sorry the news is not better
Thanks for your responses, I was with clients hence the delay
The freehold is going to have a value greater than £1 so you must get a market value valuation undertaken for both the CG and SD position to be established, rather than the base (peppercorn) value that a solicitor (or you) propose.
Thanks for your further questions and asking for me
Yes you are correct - spousal transfers do NOT give rise to capital gains or stamp duty as transfers between married couples neither create a gain or a loss so yes they take on the original costs to purcahse to be considered against disposal.
No - you will still incur a capital gain and stamp duty consideration against a future transfer to a limited company.
We are not able to offer an advisory service as we would need to see all your tax position to best advise any possible tax mitigation - and we are just an information service and not equipped to offer a full service, you are best seeking a consultation with a local accountant for that
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