michael O'Connor

Registered with Property118.com
Tuesday 21st December 2021


Latest Comments

Total Number of Property118 Comments: 7

michael O'Connor

13:21 PM, 8th January 2022, About 5 months ago

Avoiding the additional stamp duty by transfer of deeds?

Reply to the comment left by michael O'Connor at 08/01/2022 - 12:11
* pay zero as I’m minus £20k.
Was thinking it would have to be in same tax year but il read into that further. Thanks... Read More

michael O'Connor

12:11 PM, 8th January 2022, About 5 months ago

Avoiding the additional stamp duty by transfer of deeds?

Reply to the comment left by Crossed_Swords at 08/01/2022 - 11:49
I am English and larger house is my
Main.
That sounds like a plan. Not sure when I sell my Scottish flat, say if it’s 2030 at £50k loss and I don’t sell my main residence at that time until 2040 at £30k gain, I’d only pay CGT on £20k despite it being different tax years... Read More

michael O'Connor

16:18 PM, 7th January 2022, About 5 months ago

Avoiding the additional stamp duty by transfer of deeds?

Reply to the comment left by Wayne Hoban at 07/01/2022 - 15:36
Thanks Wayne - i reread HMRC terms a-d last night and agree/understand your first point now as replacing main residence. Previously the guidance and calculators ask do you own another property (the flat) which spit out shocking numbers due. Initially thinking I am always going to be stung with additional as long as I had that flat which didn’t seem fair.

Good option regarding comment two. Will seek further.
Thanks,
Mike... Read More

michael O'Connor

14:56 PM, 7th January 2022, About 5 months ago

Avoiding the additional stamp duty by transfer of deeds?

Reply to the comment left by Katy Ann at 06/01/2022 - 19:52
Thanks, I understand and knew this would be difficult but wasn’t sure if I could transfer majority to her so I only own a minor stake. HMRC condition c or d (can’t recall) says dispose of major stake which I would pass on that basis. I am sure they knew people were doing this so tightened up in 2018 and class a major stake as any stake at all I interpret... Read More

michael O'Connor

14:47 PM, 7th January 2022, About 5 months ago

Avoiding the additional stamp duty by transfer of deeds?

Reply to the comment left by SimonP at 06/01/2022 - 17:53
The forum is used for an initial steer and I might well see an account once I know what I am asking for, if that is what is needed after collecting initial thoughts.
No thanks,
Mike... Read More