Had a call from a legal firm (linked to estate agents).
Basically, they form an unlimited UK company and you put your money into it. This company then buys the house and on the day of the exchange sells it to you for £1.
Legal fees about £15K to make this water tight.
Evidently only poor stupid people have been paying stamp duty, the rich don't pay it and the loophole has not been closed.
Anyone clued up on this?
Basically, they form an unlimited UK company and you put your money into it. This company then buys the house and on the day of the exchange sells it to you for £1.
Legal fees about £15K to make this water tight.
Evidently only poor stupid people have been paying stamp duty, the rich don't pay it and the loophole has not been closed.
Anyone clued up on this?
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