This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet

Transfer property out of LTD company to individual

lolawillow1
Posts:1
Joined:Fri Sep 25, 2020 3:20 pm
Transfer property out of LTD company to individual

Postby lolawillow1 » Fri Sep 25, 2020 3:22 pm

Hi

I'd like to know, if a company owns a residential property worth £250K and wants to transfer the property to an individual not associated with the company as a gift, what are the tax implications?

There is no mortgage on the property.

pawncob
Posts:5090
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: Transfer property out of LTD company to individual

Postby pawncob » Fri Sep 25, 2020 6:46 pm

It'll probably be assessed on the Director who authorised the gift.
With a pinch of salt take what I say, but don't exceed your RDA

bd6759
Posts:4262
Joined:Sat Feb 01, 2014 3:26 pm

Re: Transfer property out of LTD company to individual

Postby bd6759 » Thu Oct 01, 2020 12:00 am

Why would the company want to make such a gift? Is it a charitable donation?


Return to “Stamp Duty, Stamp Duty Land Tax, SDLT”