stamp duty

[scooterscot]

If my company were to buy a property it would be exempt from stamp duty.

Can the company premises be also my place of residence?

What’s happens to the property when I wind the company down?

[tim123]

If my company were to buy a property it would be exempt from stamp duty.

Can the company premises be also my place of residence?

What’s happens to the property when I wind the company down?

1) absolutely not.

2) As far as the company is concerned, yes. Though there may be planning restrictions on this. It will create a BIK which you ought to pay the tax on.

3) If you don't sell it beforehand, it will pass to the crown, you do not want to do this.

tim

[scooterscot]

Just paid 10K of SDLT and if I were to move again in the next 12 months even I'd have to pay it again. It's little wonder there is a shortage of property on the market. Your penalised from the off the moment you decide you want to buy a place, how is that fair?

[PAG]

Just paid 10K of SDLT and if I were to move again in the next 12 months even I'd have to pay it again. It's little wonder there is a shortage of property on the market. Your penalised from the off the moment you decide you want to buy a place, how is that fair?

and who told you we live in a fair world ??

[Euro-commuter]

Just paid 10K of SDLT and if I were to move again in the next 12 months even I'd have to pay it again. It's little wonder there is a shortage of property on the market. Your penalised from the off the moment you decide you want to buy a place, how is that fair?

No, you're not. You are simply taxed on the purchase of a property (there is AFAIK no penalty for deciding you want to buy a place). OK, you don't like paying taxes, what else is new?

[scooterscot]

Then what would happen if the property was sold to me in bananas and not £'s, stamp duty would not be paid. Then the bananas could be sold at tesco's... right?

[Euro-commuter]

Then what would happen if the property was sold to me in bananas and not £'s, stamp duty would not be paid. Then the bananas could be sold at tesco's... right?

Bananas is right!!