Stamp Duty Land Tax Question
A UK situated holiday rental property is owned by an offshore company. SDLT was paid on the original purchase by the offshore company.
The director shareholders want to raise a mortgage on the property, and have a mortgage offer from a UK building society, provided the property is UK owned.
Can the transfer of ownership to the UK be achieved without incurring SDLTagain?
From a practical (non tax) point of view. there wouldn't be a problem with the property being transferred to one of the offshore company shareholders, who is non UK domiciled but has a UK passport.
Alternatively could it be transferred to a UK company?
Final point is the original SDLT was on a much lower value than the value now, as the property has undergone significant development.
- accounting for this transaction 334 2
- Is there capital gains tax for selling a church? 363 5
- Tax Avoidance 174 1
- When to include value of import in Box 7 90 2
- sole trader accountant 848 15
- How could I be identified for VAT purposes in UK? 453 10
- CGT 168 2
- do i have to register new ltd practice as tax agent? 113 1
- international employer please help!! 71 1
- Sage payroll alternatives 401 4
- employer pension contributions - OMB company 176 2
- Accounts production software license expiry & possible alternatives 337 7
- Capital gain? 142 3
- Are clients getting more stupid? 1,307 21
- Construction Industry Allowable expenses 286 8
- Recharge for private use of a company car 360 8
- vat help for catering concession 286 10
- IHT dilemma 1,165 17
- Tax return software for remote working 242 3
- CGT 344 14
- Auto enrolment excuses 1,093
- Feedback on accounts production software for IFRS 783
- Add T&Cs to Sales Order in Sage 467
- Digita Hosted Software 283
- Call Centre Data Costs 253
- Are any of you agents for doctors? 232
- Credit where credit's due....... 228
- Buying goods in US and selling them to company in US 212
- Married Couples Allowance wasted? 193
- Director phone costs 158