Transfer of property between companies

Transfer of property between companies

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Hi

An offshore company owns residential investment property in the UK. The offshore company wants to set up UK limited companies and transfer the property from the offshore entity into UK limited entities. (This is being done in order to make it easier to use the properties as collateral for further development of the UK investment property portfolio).

Will this transaction generate a liability to pay stamp duty?

Thank you in advance for you answers.

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By exceljockey
13th Dec 2011 14:07

Stamp duty group relief

According to HMRC groups can get relief when transferring properties within group companies as per http://www.hmrc.gov.uk/sd/reliefs/intra-group-relief.htm

However whether that applies to offshore companies transferring into onshore companies I am not too sure.

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