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  1. Hi All, I've been listening to R&R for a couple of years now but first time on this forum. Hopefully I can get some help. I live in London in rented accommodation and have just bought my first property £65k) in Scotland through a limited company set up with a friend. I'm concerned that by purchasing this property I may now be impacted by the new stamp duty surcharge of 3% when it comes to buy a property for me to live in. Assuming this will be in London would mean that it would cost me a min of £10-15k in tax which would spoil the benefits of my limited company investment.
  2. Hello hubers- here is the scenario i need help with as i keep getting contradicting answers: I live in a rented accomodation which is my main residence. I have never owned a main residence in the UK. While living in this address, i have purchased 2 investment BTL properties, in which i have never lived. I now look to buy a house to live in. Will I be eligible to pay the lower tier stamp duty as i'm replacing my main residence? 👉It seems the answer to 1particular questionn in the HMRC stamp duty calculator makes all the difference: see attached Many Thanks for your opin
  3. Hi fellow property guru's, Newbie here looking for some advice. I'm looking at setting up a SPV Ltd company to invest in some properties, initially I'm looking to flip a few and then build a BTL portfolio. My question is; If I purchase a property under a Ltd Co and personally do not own a property in my name (never have), then later purchase my first property in my own name to live in. Would I still be classed as a first time buyer and get the Stamp Duty (SDLT) Relief on my personal property? Eager to find an answer to this so I can begin my property journey... Thanks in
  4. Hi, I'm buying a residential home with my partner valued at 525k. Currently, I will pay 3% surcharge on the £525k property because I intend to keep my flat which is valued at £425K. My partner is a first-time buyer. What I’m planning to do is sell my current residential home (the flat) to my limited company (SPV) and use that company to rent out the property via a buy to let mortgage. The larger picture is to purchase a few more BTL properties within the next 5 - 10 years using the limited company. I’m also a higher rate tax earner and intend to use this compan
  5. Hi guys, I currently own one BTL property and a Personal home, however we are planning on buying a new personal home and keep the existing home as a BTL property. Before George Osborne's announcement this was relatively straight forward: re-mortgage as BTL and use equity for next personal home purchase, however with the new stamp duty rules for 2nd homes we would be hit with an additional 3% on the full purchase price unless we sell our main home. Being a 40% tax payer with no immediate need of additional income I am now considering selling our personal home to my Limited Company
  6. Hoping you could help me with a pretty unique question around stamp duty (I live in Scotland) as I can’t seem to get a clear answer from anywhere else. I’m currently staying with parents while building a property to live in. It is not finished yet but plan to be in in the coming few months. If I purchase an investment property now would I escape stamp duty from this ? Obviously there is no purchase price for my own residential property which would be finished post investment purchase. Any help would be perfect.
  7. Hubbers, Just after listening to the Chancellors Cuts on Stamp duty and its pretty positive news. I still have a few questions that hopefully can be answered in the coming days but ill leave them here to see what response i get. 1 - Does this apply to all of the UK (England/Scotland/Wales/NI)? 2 - Does this apply to Buy-to-Let property purchases too? 3 - Does this apply to Commercial property? 4 - Stamp Duty holiday? Does this mean after 31st March 2021 the Stamp duty that wasn't paid will then need to be paid back over time? 5 - Do you get a Stamp duty rebate
  8. Hi guys, Just want to check my understanding as I move towards a transaction. I currently own 2 BTLs but live in rented accommodation as my main residence. We're looking at buying a new place which will be our primary residence. Am I correct that under the new stamp duty rules that I won't have to pay stamp duty under 500k? My understanding is that the 3% won't apply as this will be my primary residence. One other thing that might complicate is that the property includes an annex and a 1 bed cottage that we'll be using for holiday lets. || Thank you!
  9. Hi, wondering if anyone here can help me as I know there are lots of experience property people here! Bit of a long one but here goes....... I’m selling my large flat to buy a house. I have a plan in mind which is: to sell the flat to a property company that I own the company will need a mortgage to buy the flat the property company will then let out the flat at first, my wife and I will rent the flat from my company we will look for a house to buy once we find one we will move out and buy the house in our names then the flat will be let out
  10. Hi Everyone! I've been following Rob & Rob's podcast for a while now, and thought I would take their advice and ask for some help through the forum! My partner and I currently own a 3 bed flat in Kenilworth, which we purchased for £210k in 2017. We currently have it on the market for £250k, but have not had any offers past £230k in 6 weeks... but are now wondering whether keeping the flat and purchasing another smaller property would be the smartest move. We have £60k in cash, so could afford to buy a small house in Warwickshire for £250k (max) and rent out the flat as a bu
  11. Fairly new to the UK, I’ve been listening to Property Hub’s Property Podcasts for the past 18 months or so. I’m a few weeks away from completing on a first property for me and my family to live in (which will enable me to access BTL products going forward). There’s been much talk, and I saw an article yesterday suggesting a stamp duty holiday soon, potentially (https://www.thesun.co.uk/news/12027543/rishi-sunak-stamp-duty-holiday-new-buyers/). Unsure whether the holiday will apply to everyone or not, worth noting is that I owned property previously (not in UK), so would not qualify if the holi
  12. Fairly new to the UK, I’ve been listening to Property Hub’s Property Podcasts for the past 18 months or so. I’m a few weeks away from completing on a first property for me and my family to live in (which will enable me to access BTL products going forward). There’s been much talk, and I saw an article yesterday suggesting a stamp duty holiday soon, potentially (https://www.thesun.co.uk/news/12027543/rishi-sunak-stamp-duty-holiday-new-buyers/). Unsure whether the holiday will apply to everyone or not, worth noting is that I owned property previously (not in UK), so would not qualify if the holi
  13. Hi All, I am looking to purchase my first property as a BTL through an SPV. Do I retain my first time buyer rights as an individual? I've had conflicting advice/opinion from my mortgage broker and legal professionals. I know that within an SPV you have no choice but to pay the higher rate stamp duty, so does this have any baring?
  14. Hi All, Just thinking about purchasing 3 properties in a ltd for specific purpose of letting. I understand we get the benefit of Multiple dwellings relief (i presume this is only if we are purchasing from same vendor?) but was wondering do you need to factor in the extra 3% surcharge on the average SDLT too? thanks All!
  15. Hi Property Hub Wondering if you could help me. I'm looking to buy a property with a limited company - I know you pay the 3% surcharge on stamp duty - but can you claim that back if the property sells within 3 years? As is the rule when purchasing as an individual. And could you point me in the direction of any resources on the subject? I'm struggling to find any definitive answer online. Thanks! Durian
  16. Hi, I am aiming to transfer two properties which are currently in my name into a ltd company. I don't have the funds in the ltd company to put down a 25% deposit on both properties. I would effectively want to use the money released from the sale as a director's loan to buy the properties. Is this possible? Or is there any way to transfer the properties without saving up a whole new deposit? Furthermore, does any property bought by a ltd company incur the extra 3% stamp duty, or is a ltd company exempt from additional stamp duty for its first purchase? Thanks
  17. Hello! I'm wondering if anyone can help regarding a stamp duty question? If i were to buy a property as residential for cash and then remortgage under a FHL (Investment property), would i then be able to buy a new residential property without having to pay the higher rate of stamp duty? In short, is the above a way of acquiring two properties without paying the higher rate of stamp duty? Thanks!
  18. Paddy

    Stamp duty

    Hi all, I have just sold my own residential home. I am looking to buy a BTL in my ltd company shortly (2 months). However, in approximately a year I will want to buy a home to replace the residential home that I have just sold. Will I use up my stamp duty relief by buying the BTL in the LTD company? Thanks for any help Paddy
  19. 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
  20. Hi everyone, I live in London and the rent I pay at the moment is much lower than the mortgage I would pay to buy the same kind of property here (like 40% cheaper). So, I'm thinking to invest my money in a buy-to-let somewhere else and keep renting in London. But I cannot find enough information online to understand if it's a good idea: Will lenders allow me to do buy-to-let as a first investment? Will I lose the the ability of using only the 10% deposit when I will buy my own house in the future? How will the Stamp Duty work? Will I pay less in the first buy-to-l
  21. Buy to let Ltd company. I'd be really gratedul if any one could offer some advice as I've tried countless local accountants and cannot seem to find one to give me the exact answers I need. I'm at the beginnings of setting up a ltd (spv) company to hold my current main residence, which isn't mortgaged and wholly owned valued at around £150k. Once it's tenanted I want to release some equity/mortgage from the property and start purchasing buy to let's. I'm a higher rate tax payer and also buying a new property with my partner. I've worked out it would make more sense to use the lt
  22. Hi, Does anyone know if I was to set up a limited company to own a property with a sole director, would there be any additional stamp duty implications or issues with the lender if another director was added to the company at a later date? Many thanks
  23. Any Tax Savvy People? Would you be able to help or clear this up if you have time please. I am purchasing a property with my friend (we both live together) who is a first time buyer and i have purchased a BLT but don't own any residential property. We are buying in Glasgow and would love to avoid Stamp duty. We have a mortgage company who will lend 90% LTV and my friend will be named on the title and i will be the beneficiary. If i wasn't the beneficiary we wouldn't get the 180k amount need to purchase the property. Therefore setting the mortgage up this way we believe that
  24. Hi all Hoping some of you might be blessed to help as I’ve been unable to find the answer anywhere else. Me and my partner bought our residential home last year and paid the 2nd home surcharge as I own another flat (no Morgtage). We are now setting up a BTL business with a third party using a LTD company set up, we’ve had issues trying to sell the flat (which is where a large portion of our funds for the company are to come from) and want to let it out for a short period (it’s service charges are too high to make it a good investment long term) to get some come income to cove
  25. Hi, Having spent a significant amount of time online researching and assessing my options, I have yet to come to a conclusion. Please could you help? I live in a flat valued in the region of 300k I am moving to another city due to work and I am a higher rate tax payer I'd like to rent out my current flat (main residence) via Ltd company (SPV) as I intend to build a portfolio going forward. How do you go about with the sale and mortgage (ltd company)? I have a mortgage broker already How would you value the current flat to sell to the ltd company? Is it better
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