Hello everyone.
I'm looking for some advice from some experts if possible please!
My father is wishing to gift me a tenanted BTL property that has market value of £400k, however he just wants £100k from me to pay off his outstanding mortgage.
i can release the £100k equity from my current property to make the purchase, however i want to understand the Stamp duty implications, and how best to do this...
is the best approach to setup and incorporate the property into a limited company instead of a personal holding? (in the future i would like to grow a portfolio)
Should i purchase the property in the first instance, then gift to the limited company? Or should i invest the £100k into the company and then purchase the property (not sure how the gifting from my father would work in this instance, and the best approach to minimise stamp duty and CGT liabilities.)
any advice on this would be much appreciated.
many thanks in advance!
Alex
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