Can I Reduce 3% Stamp Duty Surcharge by selling home to my own Ltd

[DaddyofTwo]

Hi

About to purchase a new main home for my family and going to buying cash to hopefully avoid stamp duty holiday expiry (it'll be below £500k).

We won't have the time to sell our current home, and might want to keep it anyway as a BTL to add to our current portfolio which is owned personally and through Ltd Companies.

Can I just confirm my understanding that if I sell our current main house / registered principal dwelling (at market value) to a Ltd company 100% owned by my wife and myself, this would still constitute a sale of our main residence for SDLT so that I won't pay the 3% surcharge on the new purchase price. And so if I did the transfer to the Ltd before 31/3, I would just pay the 3% surcharge within the Ltd?

[Codger]

I understand you have some time to reclaim if you do end up paying the 3% and later sell the extra house.

[DaddyofTwo]

Cheers - but deciding if I want to keep it or not.

[Jerome2020]

You’re correct if the property is in England. Should be no CGT if always was your home and company pays just the 3% additional rate if value below £500k. Even if solicitors can’t get the job done by 31 March, it’s still possible to document the transfer of beneficial interest. This might be handy depending on what’s in the budget next week. Good luck!

[DaddyofTwo]

Cheers. Filling in a TP1 isn't difficult!