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Where Taxpayers and Advisers Meet

Probate property to SPV limited

Sunrise
Posts:2
Joined:Thu Apr 28, 2022 9:53 am
Probate property to SPV limited

Postby Sunrise » Thu Apr 28, 2022 10:05 am

Hi
I am very new to this forum.

I have friend whose husband died leaving few buy to let properties on his sole name, probate has been granted, when refinancing the properties can she put those properties into SPV limited company own by her? If yes does she need to pay any SDLT? what wood be best advice, she already has few properties on her sole name?

AGoodman
Posts:1734
Joined:Fri May 16, 2014 3:47 pm

Re: Probate property to SPV limited

Postby AGoodman » Thu Apr 28, 2022 5:54 pm

She needs to take proper advice on this as there are several consequences: SDLT, CGT and inheritance tax. It needs to be done properly and she needs to understand the consequences. There will be CGT and possibly IHT returns to file - the CGT return within 60 days.

It may be possible to reduce some of the taxes by using a deed of variation.

Sunrise
Posts:2
Joined:Thu Apr 28, 2022 9:53 am

Re: Probate property to SPV limited

Postby Sunrise » Thu May 19, 2022 5:18 pm

Thank you.


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