Should I sell or risk tenants buying at undervalue price?9:08 AM, 25th September 2019
About 4 weeks ago 48
My company owns 50% of a leasehold flat and has agreed to purchase the other 50% for £57,500.
I was extremely surprised to hear from my solicitor that “SDLT is payable by all companies at the rate of 3% when acquiring a property at this level.”
He also stated that he was taking advice on whether the SDLT was payable on the remaining half share or is based on the value of the property.
I was under the distinct impression that incorporated companies are not liable for the ‘penalty’ SDLT?
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