Transferring a Freehold commercial building to a LTD company

Transferring a Freehold commercial building to a LTD company

14:24 PM, 4th January 2016, About 6 years ago 1

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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

by Neil Patterson

14:26 PM, 4th January 2016, About 6 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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