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Where Taxpayers and Advisers Meet

Stamp Duty Surcharge Refund for Property Transfered to Company?

npjacques
Posts: 2
Joined: Wed Jan 08, 2020 12:29 pm

Stamp Duty Surcharge Refund for Property Transfered to Company?

Postby npjacques » Fri Jan 10, 2020 12:09 pm

Hi all,

I currently have one property that is solely in my name that I've been renting out for 6 months before which I lived in for 12 years.

I purchased a new more expensive property this time with my wife 6 months ago and as a result of keeping the previous property we had to pay the stamp duty surcharge on the new, more expensive property. I've recently setup a company which I plan to purchase more buy to let properties through in the coming years and ideally would like to transfer my existing property over however researching online the general consensus seems to be that it's not worth doing as the stamp duty charge will negate the tax savings benefits.

I am aware that as I lived in the rented house before I rented it out that if sold within 3 years I would be entitled to the stamp duty surcharge refund on my new property so my question is this, if I transferred my buy to let property to the company would I be able to claim the surcharge refund? If the answer is yes then this would be worthwhile as the refund of the surcharge on the new more expensive property would be higher than the stamp duty payable to transfer my less expensive rental property into the company.

Any help or advice would be much appreciated!

Thanks in advance,
Neil.

jerome.lane
Posts: 126
Joined: Mon Aug 12, 2019 8:41 am
Location: Camberley, Surrey
Contact:

Re: Stamp Duty Surcharge Refund for Property Transfered to Company?

Postby jerome.lane » Fri Jan 10, 2020 1:01 pm

Yes you would.
Jerome Lane
Tax Advisor
jerome.lane@stewartco.co.uk
Stewart&Co.
Chartered Accountants
Telephone: 01276 61203

CharlieD
Posts: 1
Joined: Wed Jan 22, 2020 2:17 pm
Location: United States
Contact:

Re: Stamp Duty Surcharge Refund for Property Transfered to Company?

Postby CharlieD » Wed Jan 22, 2020 2:20 pm

While transferring the Documents of Home On our name, We have to pay the Government Tax?


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