Stamp duty

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    Stamp duty

    First-timer I am looking to purchase a buy to let property through a newly created business this will now be my job will I have to pay stamp duty on this any help would be appreciated

    #2
    If you haven’t already looked in to basic information like that which is readily available through a quick google search then you should be asking yourself if you’re ready to turn buy to let in to a job.
    Expenses such as stamp duty and tax rates are the main factors that influence whether to set up a company to run the property business through so stamp duty should really have been looked in to before deciding to buy through a company.

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      #3
      Having decided to throw myself from an aeroplane, I am looking for people's thoughts on parachutes.
      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).

      Comment


        #4
        Short answer is yes, and you’ll have to pay an additional 3% over the standard residential rates because it’s buy-to-let.

        More information: https://www.which.co.uk/money/mortga...y-a26by5t8dmcb

        Comment


          #5
          As first time buyer , you can buy a property (under your own name for self occupation ) up to £300K and claim exemption for sdlt ( = Nil ) ..

          If you buy for BTL property ( under your name or company name ) then you should expect to pay sdlt + 3% ( if property price over £40K ).

          You can check this out by asking for a quotation from a local solicitor firm offering conveyancing service.

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