• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

3% SDLT extra

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    3% SDLT extra

    Chaps

    In light of the increase in SDLT does it make sense to buy my second house ( current would become BTL) via the limited company! That will save £20k on SDLT on a 600k purchase which is sizable!! Also easier to manage inheritance and no cgt if I live in it till I drop!!

    Cheerios

    #2
    Originally posted by jonbon View Post
    Chaps

    In light of the increase in SDLT does it make sense to buy my second house ( current would become BTL) via the limited company! That will save £20k on SDLT on a 600k purchase which is sizable!! Also easier to manage inheritance and no cgt if I live in it till I drop!!

    Cheerios
    If you are planning to live in to check the bik implications of company provided occupation. It would be a good idea to do it sitting down.

    if planning to let it it depends on a lot of factors. But probably not.

    Comment


      #3
      It would not take long for such companies to be target for some special tax treatment, like say higher corp tax or CGT in order to "provide affordable homes to first time buyers".

      Comment


        #4
        1-man Ltds are already under scrutiny so using them for further avoidance doesn't seem terribly good however they probably wouldn't do anything about it until there was evidence it was becoming popular by which time you'd have yours.
        Originally posted by MaryPoppins
        I'd still not breastfeed a nazi
        Originally posted by vetran
        Urine is quite nourishing

        Comment


          #5
          SDLT is still payable if your company buys the property.

          The only thing I can suggest is that you buy (actually complete on) the second property prior to April.

          Comment


            #6
            Has any aggressive tax avoidance strategy ever worked?

            You can spot a loophole and exploit it, like some scheme users on this forum, but you will eventually end up paying twice the amount once HMRC sniff you out.
            Vote Corbyn ! Save this country !

            Comment


              #7
              Originally posted by fullyautomatix View Post
              Has any aggressive tax avoidance strategy ever worked?

              You can spot a loophole and exploit it, like some scheme users on this forum, but you will eventually end up paying twice the amount once HMRC sniff you out.
              Apparently successfully faking your death is quite effective.
              I'm a smug bastard.

              Comment


                #8
                Originally posted by fullyautomatix View Post
                Has any aggressive tax avoidance strategy ever worked?

                You can spot a loophole and exploit it, like some scheme users on this forum, but you will eventually end up paying twice the amount once HMRC sniff you out.
                Retrospection is not the norm so I thought the early adopters normally DID profit, then loopholes got slammed shut as soon as it started becoming more common i.e. worth the effort to prevent?
                Originally posted by MaryPoppins
                I'd still not breastfeed a nazi
                Originally posted by vetran
                Urine is quite nourishing

                Comment


                  #9
                  Originally posted by LucidDementia View Post
                  Apparently successfully faking your death is quite effective.
                  I've got a question - does this 3% apply to currently 0% SDLT totaling of 3% for cheapest properties?

                  Comment


                    #10
                    Originally posted by diseasex View Post
                    I've got a question - does this 3% apply to currently 0% SDLT totaling of 3% for cheapest properties?
                    0% SDLT band is now £0 - £40,000. There is no 3% BTL surcharge on this.

                    So, go oop North and fill yer boots.

                    Comment

                    Working...
                    X