Buy to let property - 30 day B&B rules

[matwils]

I read about the 30 day "bed & breakfasting" rules for reducing CGT on shares.

Is it possible to use a similar approach to rebase the cost of a buy to let property? I would sell the property to a trusted third party at market value. An expert valuation would be used to demonstrate market value. 30+ days later I would buy the property back at the same value. It sounds too good to be true, so I'm sure there must be a reason why this isn't possible.

Any advice would be greatly appreciated.

[AnthonyR]

The purchaser would have to pay stamp duty on the purchase. You would then have to pay stamp duty to re-purchase the property. Plus all the costs of the legals.

Bearing in mind the extra 3% SDLT, unless your property was under £40,000, then I would imagine that his would remove all benefit (and make it a very expensive exercise).

[maths]

The "b & b" rules are restricted in their application to "securities"; they have no application to land (eg buy to lets).

Hence, your suggestion will not work.

Nice try!!