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escapo rat race

BTL from personal to Ltd company

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I suppose I wont be getting any prizes for the exciting unique title and I'm sure this question has been asked LOADS of times before, but sorry, I'm going to hit the infamous topic again. 

 

So, typical story, just received my 2018/19 personal tax return and the section 24 tax return is really starting to bite now, so I simply want to get my two BTL flats into my Ltd company property account. 

 

The very approximate details are:

  • 2 x flats worth around £135 K each.
  • Don't have the funds in the Ltd company to buy so need to be some sort of Directors loan or something?
  • Need to happen ASAP.

Has anyone gone from this process, and can recommend any sources of information and / or specialist conveyancers who can assist? Do I HAVE to pay Stamp Duty? Heard some discussions around this and possible "options".

 

Thanks in advance.

 

Chris/

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14 hours ago, escapo rat race said:

Don't have the funds in the Ltd company to buy so need to be some sort of Directors loan or something?

You have the equity in the properties already? You can put that into the company as a Directors Loan for tax efficiency.
The mortgage companies that enable a landlords SPV buy properties from themselves are used to this in the conveyancing process.

14 hours ago, escapo rat race said:

specialist conveyancers who can assist?

You dont need specialist conveyancers really.
You will have a conveyancer for you (the person) who is selling the properties.
You will have a conveyancer for the company (SPV) who is buying the properties.
Everything is rather standard.

14 hours ago, escapo rat race said:

Do I HAVE to pay Stamp Duty?

Yes - perhaps Capital Gains Tax also. It's never a bad idea to talk to a property accountant to discuss what will be payable.


:wub: Get Mortgage Advice from my Team at Bespoke Finance on 08009202001 or email hello@bespokefinance.info 
:ph34r: 
Please don't take my messages on Property Hub as Personal Financial Advice, just a rambling guy passing time on a Coffee Break.
 

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