7:24 AM, 21st June 2016, About 5 years ago 8
I am a full time landlord and have a portfolio of properties that are all in my sole name. I am confused by the conflicting advice I have received from various tax advisers about incorporating via a property partnership to get around both CGT and SDLT.
I find the partnership route very murky and open to challenge by HMRC and therefore I am inclined to incorporate direct from personal ownership (like Ramsey case) if the SDLT bill will not be too high.
I know that if you transfer 6 or more properties then you can opt to pay the commercial SDLT rate but what I am not clear about is; will the SDLT be payable on the total value of the portfolio or would it be averaged out with SDLT charged on the rates that apply to individual properties as is the case with Multiple Dwellings Relief.
Any answers would be greatly welcome.
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.
Advice and implementation provided by a practising Barrister-At-Law with £10,000,000 of Professional Indemnity InsuranceBook Now
|“Account”||means an account required to access and/or use certain areas and features of Our Site;|
|“Cookie”||means a small text file placed on your computer or device by Our Site when you visit certain parts of Our Site and/or when you use certain features of Our Site. Details of the Cookies used by Our Site are set out in section 13, below;|
|“Cookie Law”||means the relevant parts of the Privacy and Electronic Communications (EC Directive) Regulations 2003;|
|“personal data”||means any and all data that relates to an identifiable person who can be directly or indirectly identified from that data. In this case, it means personal data that you give to Us via Our Site. This definition shall, where applicable, incorporate the definitions provided in the EU Regulation 2016/679 – the General Data Protection Regulation (“GDPR”); and|
|“We/Us/Our”||Means Property118 Ltd , a limited company registered in England under company number 10295964, whose registered address is 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB.|
|Name of Cookie||Purpose||Strictly Necessary|
|JSESSIONID||Used only to collect performance data, with any identifiable data obfuscated||No|
|__cfduid||This cookie is strictly necessary for Cloudflare's security features and cannot be turned off.||Yes|
|Name of Cookie||First / Third Party||Provider||Purpose|
|__utma, __utmb, __utmc, __utmt, __utmz||First||Helps to understand how their visitors engage with our website|
|_fbp||First||Helps to understand how their visitors engage with our website|