Own property in Partnership, can we transfer to LTD w/o paying Stamp Duty?

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    Own property in Partnership, can we transfer to LTD w/o paying Stamp Duty?

    Hi

    I own a HMO property which I purchased in partnership with a family friend, however, I am keen to transfer this into a LTD/SPV for tax reasons. I was told by a friend that if the property is owned in partnership, there may be an opportunity to migrate this to a LTD/SPV without having to pay any stamp duty or capital gains?

    Please could any share any advise on this?

    #2
    There are various companies "out there" who claim that they can facilitate this.
    I do not believe them and would, personally, have nothing to do with them.
    When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
    Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

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      #3
      I might be slightly off but as I understand it, if HMRC formally confirm that the current arrangement does constitute a Partnership then after formal confirmation one is able to transfer into a Ltd Company but my shrinking grey cells suggest this cannot be done for 24 months after acceptance of the Partnership.
      i would strongly suggest talking with a suitably qualified accountant and not as jpkeates talks about a “Trust adviser, as my accountant states they are very focused on the fees to be levied.

      Comment


        #4
        It is allowed to transfer property assets from partnership to limited company and delay payment of CGT. Best to consult an accountant for advice .


        https://www.gov.uk/incorporation-relief

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