Transfer

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    Transfer

    Hi,

    I bought a flat in 2000 for 200k, and recently bought the freehold for the block of 6 which completed last month in a company name.

    I now want to transfer the property to the company but unsure what the implications on stamp duty and capital gains the flat is now worth 330k.

    Also with the new rules coming in, any advice on what to do

    #2
    Why do you want to put your own property into the same company which owns the freehold ? Don't do it.

    1. The transfer of your flat ( registered in own name ) to company will be liable for capital gains tax at 18% & 28% rate ( but the period of owner occupied residence is exempt for cgt . )

    2. The other leaseholders may wish to buy a share in your company and your own flat held by the company will be a problem.

    Comment

    Latest Activity

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      by AndrewDod
      Can't see any reason this would be an insured event. Agree it is not a capital expense at all....
      25-05-2022, 09:25 AM
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    • Reply to Is it an allowable expense or capital expense
      by Another Fine Mess
      If you dont mind me suggesting, If your Insurance Company is rejecting your claim you could get in touch with a Chartered Loss Assessor who would argue with the Insurance Company Loss Adjuster, its worth a phone call to one.
      24-05-2022, 16:30 PM
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      by gnvqsos
      I think the insurance company were right-the render must have been distressed to suffer storm damage. You can offset cost against income.
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      by Gordon999
      Hmrc rules allow transfers between spouses without cgt. The recipient spouse takes on the asset at the original purchase price.
      24-05-2022, 11:16 AM
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      by Gordon999
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      by jpkeates
      I'd say that's a maintenance cost and would be allowed against income.
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      by jpkeates
      What you are planning to do is routine and HMRC will accept the change as a matter of routine admin.
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      by mpppen
      Hello,
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