Hi I have got a Building Plot which I bought years ago for peanuts which has now become very valuable and was wondering if I could protect that asset against any possible future litigation by transferring it into a dormant LLC which I would also own For 'Nil Consideration' where no money Changes hands
Out of interest I have looked at other advice Web Sites and there seems to be a lot of confusion surrounding this issue, where many think it can be easily done but if I did so would I have to pay Stamp Duty?
Not being an Accountant, I'm finding the Gov Website quite hard to understand and their helpline seems to be busy all the time, although it does look at least to me anyway that Stamp Duty may be payable
Should that turn out to be the case, is there any other way of protecting my assets, as my knowledge of accountancy is Zero
Thanks in advance for your help