Hi
You can transfer a properies to a Limited company but there still will be CGT and Stamp duty to consider
Kind Regards
GTA
Hi
Sorry to bring this up again, but I have a couple of things that I would like to clarify:
1) My understanding is that if you gift a property (with no mortgage) to an individual, that although you will have to pay CGT, the person receiving the gift does not have to pay stamp duty(I know IHT would be payable if the gift giver passed away within 7 years). Is this also the case if a Ltd Company receives the gift - ie no stamp duty payable?
2) My understanding is that if you leave a property to someone in your will, that neither CGT or Stamp duty are applicable (only inheritance tax if above the threshold ). So can you leave a property to a Ltd Company in your will, and if so are any taxes other than IHT applicable?
The reason that I am asking is that I am thinking about investing in properties over the long term within a Ltd Company structure, and I am wondering whether my widowed mother should pass her BTLs to myself or my company upon death.
TIA
JigJay