SDLT < 500k

  • Filter
  • Time
  • Show
Clear All
new posts

    SDLT < 500k

    Any ideas if I were to transfer/sell a BTL <£500k into a LTD Company in the next couple of months, would the transaction be covered with the no SDLT payable (announced by the chancellor today)?

    No. It's 3% if it isn't your main home.


      I suggest you watch the Martin Lewis show tomorrow night 8.30 itv ( Thursday )


        I watched the BBC Parliament channel this morning and noticed Rishi Sunak said the no stamp duty concession is for buyers of their MAIN home. So its not for BTL buyers.


          Copied from BBC website

          Stamp duty holiday

          Before Wednesday's announcement, stamp duty in England and Northern Ireland was paid on land or property sold for £125,000 or more, while first-time buyers did not pay on property up to £300,000.

          Anyone buying a property higher than those prices would have to pay stamp duty, but people buying a second home - such as a rental or holiday property - would be charged an extra 3%.

          Until 31 March 2021, stamp duty will now be axed for any buyer purchasing a property under £500,000 - but second home owners will still need to pay the 3% surcharge.

          The next portion of the property's price (£500,001 to £925,000) will be taxed at 5%, and the £575,000 after that (£925,001 to £1.5 million) will be taxed at 10% - with the additional 3% added if it is a second home.


            The Nil rate sdlt up to £500K until 31 March 2021 , does include companies .

            "Companies as well as individuals buying residential property worth less than £500,000 will also benefit from these changes, as will companies that buy residential property of any value where they meet the relief conditions from the corporate 15% SDLT charge"..



            Latest Activity


            • Reply to Can't work out CGT
              by Gordon999
              What is your annual income from your job ? are you paying 20% or 40% tax on income ? .

              The capital gains tax is 18% or 28% and capital gains allowance ( tax free ) is £12,500.

              If you lived in property B for 8 years , you should be able to claim 8 years plus 9 months...
              11-08-2020, 18:35 PM
            • Can't work out CGT
              by thecrazy1
              Hello all! This is my first post and I need your help.

              I have been trying to work out the tax on a property gain. Here are my calculations.
              Inherited the house (property B) in 1997 which is opposite the house (property A) I lived in with my wife. From 1997 - 2000 i stayed in property...
              11-08-2020, 15:51 PM
            • Reply to Can't work out CGT
              by jpkeates
              First of all, you only need to nominate a property if you live in more than one property at the same time.
              Someone who works in one place and spends weekends somwhere else would normally want to do that so there's no doubt which is their main residence.

              From the sound of it, you were...
              11-08-2020, 18:06 PM
            • Reply to Can I Rent My Private BTLs to my own Ltd Company?
              by Gordon999
              I think your mortgage lender will object to renting of your BTLs to a company.

              But there is nothing to stop your company providing annual inspection and maintenance service to your flats ( 5 years external painting and internal decoration ) etc and charging a profit for the service.
              11-08-2020, 08:30 AM
            • Can I Rent My Private BTLs to my own Ltd Company?
              by Crunchie
              I own 5 buy to let HMOs in my private name with mortgages and have to pay the higher rate of income tax. My properties are my only source of income.

              Can I set up a Ltd Company and rent my properties to it for a rental that is less than the higher rate tax band, say £45,000 total? The tenants...
              09-08-2020, 20:25 PM
            • Reply to Can I Rent My Private BTLs to my own Ltd Company?
              by theartfullodger
              Hopefully chancellor will tighten up some of this sort of tax fiddling schemes.

              Taxes need to go up to pay for covid19 & Brexit
              10-08-2020, 09:02 AM
            • Reply to CGT evidence
              by jpkeates
              AndrewDod is right, the extension sounds like a capital item, but the refurbishment of the property itself probably isn't.
              And, for all the work done while you were living there, there's no tax allowance against income....
              10-08-2020, 08:58 AM
            • CGT evidence
              by PaulRs1
              Hi All,

              I’m an accidental landlord and about to sell the house. Lived in it for 4 years and rented it out for 6 (with the intention of moving back, which never happened)

              im aware I need to pay CGT and can claim improvement costs, I basically bought a wreck and renovated it...
              08-08-2020, 13:25 PM
            • Reply to Can I Rent My Private BTLs to my own Ltd Company?
              by jpkeates
              There are two obstacles.

              There's nothing specifically where HMRC says that you can't let properties to your company at below market rate, but it would probably fall foul of the general anti-abuse rule, because the arrangement exists entirely to reduce the amount of tax you pay - there is...
              10-08-2020, 08:55 AM
            • First time self assessment calculation before submittnig?
              by Advice seeker
              Hi all

              This might be a simple one, or not.

              Can someone please advise if this seems correct?

              For 2019-2020 I have the following on the HMRC form:

              £9715 income
              £2558 total allowable expenses

              Profit £7517

              I believe mortgage...
              15-07-2020, 20:04 PM