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Where Taxpayers and Advisers Meet

Stamp Duty Question

CDavey9501@aol.com
Posts:513
Joined:Wed Aug 06, 2008 3:13 pm

Postby CDavey9501@aol.com » Thu Dec 20, 2007 4:39 am

Limited company purchased a building (Part commercial part residential) recently. No real increase in the value of the building. Ownership would probably have been better in the (only) shareholder's name rather than via a limited company. If the company repays the mortgage firstly and then sells the property to the individual for 1p is there any stamp duty issues. The shareholder will loan the company the money to pay off the mortgage. No real capital gain on the property. Any other issues to consider?

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