Property, Stamp Duty and Limited companies

[Olly]

I guess you just borrow it too, but the rate is high - 4.8% I think...mind you, 79% of that can flow back to you so not all bad news...what's that, just over 1% interest....

If you wrap up the Ltd via entrepreneurs relief and pay another 10 (would be less due to Capital Gains Allowance) then it's 1.5% interest

Depends how long you want the bucks for as you need to pay 25% back within 6 months of year end I believe (or actions essentially to that effect)

Seems selling a flat to you co is not getting money out in the true sense, the only way you can do that is through one of the nasty taxed methods.

[Sockpuppet]

Nope. Just looking at ways of taking cash out of the company, other than the usual dividends, DLA or worse as a salary !

Thanks again for replies.

Robot

If you've been trading over 2 years you could get entrepreneurs relief (assuming that is still going).

Do a search for it.

[Robot]

I think he's saying he wants to stay in the flat, but raise some cash by selling it to the company. If so, that's a bad idea on a number of levels, BIK & CGT to start with.

Nope. Just looking at ways of taking cash out of the company, other than the usual dividends, DLA or worse as a salary !

Thanks again for replies.

Robot

[Paddy]

It appears to be advantages to buy property with an offshore company. HMCR sold their offices to an offshore company so I would imagine that is the right thing to do.

[Fat Dave]

I think he's saying he wants to stay in the flat, but raise some cash by selling it to the company. If so, that's a bad idea on a number of levels, BIK & CGT to start with.

[Olly]

hmm...but there are buyers out there wish cash too. What's the benefit of selling to your Ltd please?

[Fat Dave]

The house price won't increase much so CGT is not a real issue. We need to sell a flat and raise some funds, company has funds we don't, don't want to remortgage again ...

Thanks for replies.

Robot

Can't you just take some funds out of the company?

[Robot]

...and with CGT rates the way they currently are, are you sure buying a property in your Ltd Co is the best way forward?

The house price won't increase much so CGT is not a real issue. We need to sell a flat and raise some funds, company has funds we don't, don't want to remortgage again ...

Thanks for replies.

Robot

[Maslins]

...and with CGT rates the way they currently are, are you sure buying a property in your Ltd Co is the best way forward?

[Sockpuppet]

No.

[Robot]

Would a limited company buying its first property be exempt from stamp duty as a first time buyer?

Robot