Originally posted by Pip in a Poke
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Avoiding SDLT Surcharge - buy through Ltd?
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Originally posted by Bacchus View PostThe surcharge doesn't apply to your primary residence (unless you buy a new primary residence before disposing of the original, and is refundable then as long as you dispose of the original with three years).Comment
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Originally posted by Hobosapien View PostThe frequently heard downside is the capital gains tax the Ltd would owe when you came to sell the property.
I do wonder how that would be handled if the property was worth less than purchase price, if we get the house price return to 'normal' phase that is long overdue. Capital loss written off against future tax on profit or something like that?
I'd ask my accountant but you lot are cheaper.Comment
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Originally posted by Pip in a Poke View PostI thought it did. Anyhow, how is my primary residence determined? I'm not doing BTL & will have 2 resi mortgages so which is my primary residence?
Some examples : Where are you registered to vote - Where do your credit card bills get sent.
If you manage to have some statements going to one vs the other then its normally the first you buy
If you want to change your reisdence (ie flip) you need to notify HMRCComment
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Originally posted by Pip in a Poke View PostI thought it did. Anyhow, how is my primary residence determined? I'm not doing BTL & will have 2 resi mortgages so which is my primary residence?'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
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You won't be "avoiding" the SDLT surcharge - companies have to pay the full amount, with a few exceptions for charities, and certain public bodies, such as schools and hospitals. If you have a "special need" you could try your luck with HMRC, but I doubt you'll get very far.His heart is in the right place - shame we can't say the same about his brain...Comment
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Originally posted by Mordac View PostYou won't be "avoiding" the SDLT surcharge - companies have to pay the full amount, with a few exceptions for charities, and certain public bodies, such as schools and hospitals. If you have a "special need" you could try your luck with HMRC, but I doubt you'll get very far.
According to the received wisdom on this forum, I don't have to worry about this as the surcharge doesn't apply to main residences. But, yes, I know I'll pay it on the apartment but I won't be spending more than £200-250k so I can suck that upComment
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Originally posted by Pip in a Poke View PostI just want to avoid the situation where I have to pay it if I purchase a new main residence.
... and if there were, everyone would be doing it and they'd soon be closed off.Comment
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Originally posted by tomtomagain View PostFunnily enough, HMRC doesn't want you to avoid it. There are no gaping loop-holes to allow you to do so.
... and if there were, everyone would be doing it and they'd soon be closed off.
I just want to know if I have to pay the surcharge if I buy a new primary residence whilst owning a flat that I am going to use as a crash pad for work.Comment
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Originally posted by Pip in a Poke View PostYou think I can be bothered to look up the alt code for a grave?
Easy. Only works on a Mac though....Comment
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