Selling my existing property to Ltd co

dorset1992 wrote:

Selling my existing property to Ltd co
CGT and stamp duty

Hi all

i have half a dozen properties in a small portfolio (no mortgage) that I intent to sell to a newly formed company (myself as director). When it comes to stamp duty, would each property be valued individually before determining any stamp duty on each property? 
Also would there be any CGT ramifications or would this be deferred until the properties were sold by the Ltd co?

any advise or opinions would be much appreciated, or even links online to allow me to do some more reading on the subject

Just go for it!

I've seen plenty of people do it before and, believe me, it's achievable.

Don't worry about what anyone else says, it actually works.

And tax? It's only tax at the end of the day! Tax almost always is less than 100% of the value on the date of the tax point, so you'll always have money left spare afterwards.

Personally, I cannot see anything to worry about.

Cost of this advice? I usually charge £20,000, but to you £10,000 if you pay within 10 workings days.

Yes, Yes and Yes, wait, what was the question again?

You have a portfolio of six properties, so I would assume that there is significant value therein. Your proposal needs to consider SDLT, CGT, income tax and corporation tax and therefore it would be wise to seek professional advice somewhere other than on an internet forum. Sitting down with someone will cost you some money, but will also enable all of your circumstances to be considered as well as your future plans, all of which are important aspects to take into account.
There's so much to think about here, you might even conclude that transferring is not worthwhile. But you do need the big picture advice :-)

I'll ask for you down at the pub this evening, assuming it's not in 'lock down' of course - in which case I'll use a long straw.