Transferring a Freehold commercial building to a LTD company

by Readers Question

14:24 PM, 4th January 2016
About 3 years ago

Transferring a Freehold commercial building to a LTD company

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Transferring a Freehold commercial building to a LTD company

I own a freehold petrol station and MOT garage, the long term tenant is now gone and its vacant, I have plans to redevelop it however the planning I have achieved so far is not particularly profitable. I am keen to transfer it to a LTD company.accountant

My questions are as follows:

1. If I transfer it to the LTD company at say 300k is stamp duty payable and at what rate.

2. I originally paid 500k for it can the 200k loss be used to offset capital gains on the sales of another property not in the LTD company.

3. Do I have to physically transfer 300k to my accountant to buy the property in the LTD company name then he transfers the 300k back to me?

Mike



Comments

Neil Patterson

14:26 PM, 4th January 2016
About 3 years ago

Definitely sounds like you are in need of a good accountant Mike.

Please see >> http://www.property118.com/tax/


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