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  1. Hi! I own a BTL portfolio and I wish to gift a share with no money changing hands to my partner (we're currently unmarried) by a declaration of trust. The share of each individual property's mortgage consideration is less than £40k. I understand that this would not create any SDLT for her (but keen to hear that is correct). However, I'm unclear if this would be regarded as a 'linked transaction'. I have read that linked transactions are relevant for the simultaneous purchase of several properties from the same vendor, and could be treated as if they were all
  2. Hi! If I buy a BTL as a first time buyer (of any property ever) and then I later purchase a home for me to live in (without selling the buy to let), will I be liable for the higher rate of SDLT? The reason I ask is I have read that you avoid the higher rate of SDLT on your home if it's your main residence and is replacing a former main residence sold within the previous three years. Obviously in my scenario, I would not be replacing a former main residence as I don't have one to replace! I do have reasons for buying the BTL first. Doe
  3. Hi all, I'm looking for expert tax advice, wondering if anyone could direct me to a specialist BTL tax accountant. My situation is: I am a property owner (BTL property which I own outright, is not and never has been my main residence). My partner is not a home owner. We are looking to purchase a house (725k) and have been advised that we would not be liable to pay 3% surcharge if my partner's name was the only one on the title document, with a joint borrower sole proprietor mortgage, then to arrange a declaration of trust to protect my deposit and stake in the eventual sale. I want to
  4. Hello, I am wondering if the sourcing fees (and additional mortgage lender fees, mortgage broker fees, solicitor cost etc...) spent during the acquisition of a property can be deducted from the CGT bill when the same property is being sold? I am aware of SDLT being deductible but not sure about the lender/broker/solicitor/property sourcing fees. Thank you in advance for the advise. Regards Antoine
  5. Hi My wife and I are looking to convert the house we live in and own to a rental property (our first one) and move into somewhere bigger as we are starting a family. Is additional 3% stamp duty due on the new house we are buying? Is there anyway I could sign full ownership of our current house to the wife and I buy the new one in my name so we are not considered to have 2 houses and thus liable for the extra tax? Is it possible to pay the extra tax if we have to on the value of the smaller cheaper house we currently own instead of the more expensive new one? Just
  6. Hi, I currently own and live in my own property (main residence) however I would like to use some saving to purchase another property to then rent out to my brother. Is there a way of doing this without incurring the additional 3% SDLT charges? Thanks!
  7. Hi all, I hope someone would be able to provide their opinion on my condition as I have asked a few accountants and solicitors and have got conflicting answer. Situation: I exchanged before the 3% SDLT was enforced. I am going to complete soon but the developer introduce a new deed of variation. Question: Will accepting this new deed of variation sudject me to the 3% SDLT? Thanks. Brax
  8. I own a rented property in my own name (value £450k) with an outstanding Buy to Let mortgage of just under £80k. I am a 45% tax payer, while my wife is a non-taxpayer so it makes sense to move the rented flat into joint names. My crude understanding is that no SDLT is payable in this situation, as the chargeable consideration is under £40k (being 50% of the outstanding mortgage under a Transfer of Equity) Is this correct? If so, do I need to submit a SDLT declaration to HMRC?
  9. Hi, I’m looking to gift one of my personally owned BTL properties to my wife in order to benefit from her lower tax bracket. I’ve read that property can be gifted by either (1) legal ownership change or (2) beneficial interest change – the main difference between the two that beneficial ownership gives an economic interest in the property (i.e. share in: rent proceeds/ sale proceeds/ tax benefits) but no legal ownership & control. Has anyone gone through this process? Any advice on how difficult/straightforward it is? Cheers
  10. Hello everyone, I’m new to property investing and wanted to get your thoughts and advice on whether what I am thinking of doing in the future is feasible. Current Situation: I bought a flat worth £340k two years ago to live in as a first-time buyer. I incurred ~£10k of SDLT and legal expenses that I deemed capitalised hence a total cost of £350k. The initial two year fixed repayment mortgage of 1.8% is about to lapse and I am currently looking into remortgaging on a two year tracker with no early repayment charge to give me more flexibility The mortgage amoun
  11. Hi, does anyone have any experience of "Multiple Dwelling relief (FA2003/Schedule 6B)"? I'm assessing whether or not to move the 6 BTL properties that myself and my brother jointly own in personal names into a Ltd Company. One of the major factors in my decision is the amount of SDLT i will need to pay by moving these 6. I have come across the Multiple Dwelling relief (FA2003/Schedule 6B) which states:- "Where 6 or more dwellings are purchased in a single transaction the purchaser can choose whether to apply the non-residential rates of SDLT.” The Ltd Company i set up would
  12. Hi Hubbers, Apologies if this has been asked and answered before (I could find anything in the search option). A potential flip has just come on the market directly opposite my main residence that I own jointly with my partner (we aren't married). >>I'm thinking I could move in across the street whilst the refurb is being undertaken, and make this my primary residence (with my partner continuing to live in our existing house) I'm guessing this would mean that I would: Get CGT relief as the flip is my main residence. Avoid the 3% surcharge on purchase of t
  13. Hi Everyone, This is my first post after listening to the podcast for a few years, and unsurprisingly it relates to SDLT. Myself and my wife use to own a London flat (main residence) before we were married, which we sold back in 2016. Since then we've been in rented accommodation. We're now looking into starting our property adventure but would like some advice on the following. Given we sold a primary residence and have not completed the purchase of a replacement main residence before the 26th November 2018, it looks to us we will need to pay the additional 3% SDLT if we buy an
  14. I recently set up an SPV to invest in property and capitalised it with 300k of personal funds. I purchased a London property for 700k and refurbished it (at a personal cost of 150k) with a view to resale. The balance of the property was financed on a commercial loan in the company name which now totals 500k. I personally cover the loan interest by extending the Director Loan account. The property is worth around 1.1m now (would have been more but for the slow-down in London). The total director loan is now around 450k. I would like to transfer A 50% SHARE/PART OF THE PROPERTY
  15. Hello all. I wanted to know if anybody could help. We are looking to buy a new house next year but are unsure if we would be liable for the additional 3% Tax. In most cases this is quite straight forward but our situation is a little unusual. - We own a few UK properties and one in China, one of the UK properties we lived in as our main residence up until around a year and a half ago when we let out the property and moved to China. - We are now planning to move back to the UK where we would rent a property in a new area. We then hope to buy in this new area and sell the property
  16. Hi, Currently, myself and my wife own a property (no mortgage Flat) Worth £125k we are purchasing a new property worth £240k Because my wife is on a spouse Visa we are planning on doing a transfer of equity into my name so that I can get the best LTB mortgage rate, My questions are, please answer you know and not necessarily all of them 1. Do I need to pay any stamp duty when she does a transfer of equity to me? 2. On the new purchase since I'm the sole owner of a flat and she won't hold any property, will we be able to split the additional 3%
  17. Hi all, Looking for some advice on the question below as I have been on the unfortunate side of being charged 3% on my new residential property price although my converted LTB was priced and remortgaged significantly lower than the new residential. Is it possible for me to convert my current residential property into a BTL and then rent/move in with a friend for a period of 6 months and then buy a new residential mortgage without incurring the 3% ADS on the purchase price on my new residential home and instead, it would be calculated off my BTL at the time of conversion
  18. After some collective wisdom please I am currently remortgaging my family home and in discussions with my husband on potentially buying him out. If I were to buy him out and remortgage in my sole name; 1- we paid higher rate SDLT when bought our home (as I already had a BTL previous to the marriage which i previously lived in) - could i request a refund? 2 - would he be liable to pay higher rate of SDLT when he can afford to buy his own home? 3 - he isn't entirely keen on being removed from title deeds because of future potential profit on house -
  19. Hi everyone, My two brothers and I are looking at investing in quite a residential property. We have started a limited company as have been advised this is best for tax purposes for us. One brother already owns a house already. Will this affect the bracket of stamp duty when buying through the company? Any help would be much appreciated. Kind regards Will
  20. I’m transferring a personal BTL to a LTD company, there is no mortgage so the full value of the property, £240k based on a Zoopla desktop valuation, will be added to the company accounts as a directors loan which means I can draw down tax free in future years. i strongly feel my property is over valued by £20-40k and am wondering if it’s worth getting proper evaluations based on the actual state of the property. i question this because although I could save as much as £2k in SDLT by reducing the property value I also wipe around £40k off of potential long term tax-
  21. Hello all ... first posting here. I'm looking to start my first property investment for profit and have been looking at suitable properties to purchase, refurb and sell. My personal situation is that I was self employed for the last 12 years doing house refurbs for other people - new kitchens, bathrooms, plastering, tiling etc. Although I have never been out of work, I have struggled to make significant profit but it did give me an income stream and I worked for myself. I am now looking at my pension pot (I am 65) and thinking that I should be investing my time and effort in refurb
  22. Would someone mind sharing an Excel formula for the new First Time Buyers SDLT calculation? I'm inexperienced and having problems due to the reversion to standard fee if property is more than £500,000. EDIT: I've figured the formula out and will leave it here in case anyone needs it: =SUM(IF(H15>300000,IF(H15<500000,H15-300000)*5%,0)+IF(H15>500000,IF(H15>125000,IF(H15<250000,H15-125000,125000)*2%,0)+IF(H15>250000,IF(H15<925000,H15-250000,675000)*5%,0)+IF(H15>925000,IF(H15<1500000,H15-925000,575000)*10%,0)+IF(H15>1500000,H15-1500000,0)*12%))
  23. All, I'm looking for some feedback and advice on my proposal to move property into an established property LTD company that I set up in 2013 for student pods. Although I will incur CGT and SDLT obligations I expect to manage that through separate capital losses and remortgaging. I would be withdrawing money from the company but that would be via the Directors Loan account which covers the debt the company owes me. I'm looking to transfer as I'm a higher rate tax payer looking to be more tax efficient by shifting from income tax to corporation tax. I've provided accurate fi
  24. Hi I would really appreciate any information that you can provide me with on this. I am currently buying my main home with my girlfriend. My parents house was mortgage-free when my dad died, and his share went to my mum. She however, passed his share to me by deed of variation. So I now own 50% of that house. My mum wants to move and I want to buy her share with a mortgage so I can let it out. The property is valued: £400,000 I hope to get a mortgage to buy her share: £200,000 How much SDLT will I have to pay? I already own 50%, so surely I won't need to pa
  25. Hello all, First off thanks in advance for your insights. I've contacted the government but am still unsatisfied. Here's the situation: My wife and I own a flat we live in We will buy a house soon (this year) and pay the extra 3% on it without question We will rent this house out In 3 years we will have sold our flat we live in and move to the house turning it into our main residency The question is: Does this fall under the refund rule for replacing main residence by sale of main residence within 3 years The sub-question is: Do you need to make
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