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Transfer of Freehold - SDLT?


janek_s

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Hello all,

**Advice needed**

I am buying a leasehold flat with a share of the freehold. The vendor bought the building 30 years ago and converted it into flats 20 years ago. I am the first person to buy one of these flats and the conveyancing is proving difficult.

The vendor has suggested that in order to sell me 'with a share of the freehold" he is having to setup a Ltd company and transfer the freehold into that company, in order to give me a share in that company (so far, no surprises).

This week the vendor has been told (by his solicitor) that if he transfers the freehold into a Ltd Company he will be liable for SDLT on all four flats. Something he (quite rightly) is afraid to do.

I believe he is being mis-informed.

What do you think? Does anyone have the legal reference to set the record straight?

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