Transferring Inherited property straight to Limited Company?

Transferring Inherited property straight to Limited Company?

8:51 AM, 18th April 2023, About 2 years ago 11

Text Size

Hi, I’ve inherited a house from my stepmother and I’m considering letting it.

I’m a higher-rate tax payer and as I’d rather not hand over 40% of all my rent to the tax man, I’d like to use a Limited company to ‘own’ the property, but, I think I may have to pay stamp duty – including the 3% extra – if I transferred it to the Ltd company from my ownership.

However, as I haven’t transferred it to myself yet (only just got probate awarded) – could I transfer it directly to a new Ltd company, free of Stamp Duty?

Is there any other way around this issue?

Many thanks

Adam

Book a Landlord Tax Planning Consultation

  • Hidden
  • Hidden
    Please provide an overview of your circumstances and what you are looking to achieve.
  • For the avoidance of doubt, we are able to assist landlords who own properties in England, Northern Ireland, Scotland and Wales. Where you reside is not a problem, even if you are resident outside the UK.


Share This Article


Comments

Jacob Adedoyin

Become a Member

If you login or become a member you can view this members profile, comments, posts and send them messages!

Sign Up

15:42 PM, 16th December 2024, About 6 days ago

Reply to the comment left by Ade at 19/04/2023 - 07:54
Hi Ade

Can you recommend the lawyer/accountant that allowed you to do this ?

KR

Leave Comments

In order to post comments you will need to Sign In or Sign Up for a FREE Membership

or

Don't have an account? Sign Up

Landlord Automated Assistant Read More