Stamp duty on tansfer of property into limited company?

I have a client who bought a property with a personal mortgage who now wants to transfer that property into a limited company , possibly offshore in Jersey where residence has now been established , raising a commercial mortgage at the same time to replace the personal mortgage . The property has been developed into a commercial enterprise and it makes good tax planning to transfer the property save that stamp duty could be payable on the property which cost £425K less than 12 months ago . The stamp office seem to inidicate that duty will be payable ?
Ken Pritchard

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Just a thought

AnonymousUser |

Rest on contract?

JamesPrice |