SDLT

[developing]

Hi I wish to start a new business buying and selling property in a partnership with my son. I own a house my son does not. Is it possible i might avoid the additional 3% SDLT on second home ownership by buying and selling properties in my sons name only. Is there a mechanism by which we might achieve this end and are there any unpleasant tax implications.

[maths]

Doesn't really make sense.

What exactly are you proposing?

How many properties are you intending to own at the same time?

Are you buying/selling; building; developing ??

What does "buying and selling properties in my sons name" mean?

[developing]

Thankyou for your response. My idea is that I gift my son the money to buy a house. We refurbish and sell on hopefully for a profit. I believe this is called property trading or flipping. We would only ever own two properties- one each. The point being neither one of us would own an additional house/residence thereby avoiding the higher rates of SDLT. Hope this makes sense.

Regards

[developing]

Thankyou for your response. My idea is that I gift my son the money to buy a house. We refurbish and sell on hopefully for a profit. I believe this is called property trading or flipping. We would only ever own two properties- one each. The point being neither one of us would own an additional house/residence thereby avoiding the higher rates of SDLT. Hope this makes sense.

Regards

[bd6759]

If you are expecting a share of the preoprits, and the return of your "gift", it sounds like you will have an interest in the property.

[bd6759]

preoprits ?? I mean profits