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Stamp duty

Stamp duty on 2nd property

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Hi

We have a client in the current scenario.

They are an unmarried couple who live in a rental property and have never owned a property themselves.

However one of the couple owns 50% of a property company that owns 4 residential rental properties.

Would this count as ownership for stamp duty? 

Secondly the other person in the couple owns no shares in the company and has never owned a residential property. If they buy the property together is there any way to split the ownership so the 3% isn't payable on her share? E.g each own 50% separately? From looking it appears not, but I didn't want to miss anything as even though it isnt an expensive property it is a few thousand at stake.

Thanks in advance 

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By sarahg
21st Feb 2021 15:18

If the property company is a limited company, you should understand the concept of separate legal entities

Also, why would you be advising on stamp duty, this is something a solicitor would deal with

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By leicsred
21st Feb 2021 15:23

The solicitor says it is a "grey area" .

Re the separate legal entities, what read discussed part ownerships, the solicitor seems to be implying that this would count as partial ownership of residential property.

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Replying to sarahg:
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By leicsred
21st Feb 2021 15:24

Duplicated

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