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bigduckontax, Accountant
Category: Tax
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A company I have 75% ownership of is part of a small

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Hi, a company I have 75% ownership of is part of a small investor loan group, family members and the company, which has backed me on property ownership and development. One such property is earning gross 60K a year as a BTL. Is it possible to transfer to the company instead of paying back the investment loans seperately and would stamp duty be at the full mkt price or the mkt price less amt already lent.
JA: Have you talked to a tax professional about this?
Customer: not yet
JA: Anything else you want the Accountant to know before I connect you?
Customer: not that I can think of

Hello, I am one of the experts on Just Answer and pleased to be able to help you with your question.

You could transfer the title to the company for nil consideration then there would be no Stamp Duty payable as there is no consideration. Stamp Duty itself has been abolished, passed to regional parliaments and renamed.

Customer: replied 3 months ago.
Really. I thought it would be around 200,000 stamp duty for a property such as this worth £2m

Yes, but the duty is calculated on the consideration passed on transfer, not the value as at transfer.

Customer: replied 3 months ago.
thanks alot. That might be an option for me then.
thanks you

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