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karim

Inheritance and SPV

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Hello All

I am new to this forum and new to property per se.

My Mother passed away last year, she jointly owned some properties with my father which will transfer to him.

She owned one property with a mortgage in her own name.

I am due to inherit this and intend to get a BTL mortgage to cover existing mortgage and give cash to my father, there will be no IHT to pay as the equity is below the threshold.

I would like to set up a LTD co and use it as SPV, is there a way to avoid the SDLT, can I transfer my IHT allowance somehow?

Thank you in advance

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Hi Karim,

There are over 30 reliefs for SDLT however I do not know of any that apply in this situation. (I am not an accountancy expert in this field).

You could try asking an accountant that specialises in this field rather than an open forum.

Someone like silvia snowling who runs www.SDLTClaims.co.uk could advise you for example? Or others??

I think you'll find that it will depend on the property itself rather than your personal circumstances. 

Let us know how you got on?

Conrad

 

 


Conrad Paton

+44 7957 959851

conradpaton@yahoo.co.uk

https://www.linkedin.com/in/conrad-paton-424446110

 

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2 hours ago, conrad_paton said:

Hi Karim,

There are over 30 reliefs for SDLT however I do not know of any that apply in this situation. (I am not an accountancy expert in this field).

You could try asking an accountant that specialises in this field rather than an open forum.

Someone like silvia snowling who runs www.SDLTClaims.co.uk could advise you for example? Or others??

I think you'll find that it will depend on the property itself rather than your personal circumstances. 

Let us know how you got on?

Conrad

 

 

Hi Conrad, Thank you for the info I will look into the link and update you. 

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On 1/28/2020 at 5:33 PM, debbie franklin said:

Possibly a deed of variation to the will to the limited company

Hi Debbie 

 

The Deed of Variation can be done with ease, I have the grant of probate to deal with the estate. 

 

Can the SPV make use of my IHT allowance and not pay the stamp duty? 

 

Thank you 

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On 2/14/2020 at 1:53 PM, debbie franklin said:

There is no charge to SDLT but do you mean use your Mother's IHT allowance?

Hi Debbie Thank you for the response. 

I am inheriting my late mothers property, I wish to put it into a Ltd company instead of in of my name, will this incur SDLT, or can the Ltd company make use of my inheritance allowance? 

 

 

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