If a person buys a house under a limited company, is it subject to inheritance tax?

[northernladuk]

If anyone buys a house through a limited with so little clue of what they are doing then they are an idiot.

EDIT : Should you not be asking how that will be taxed if you are a british citizen residing in Turkey?

But to break it down a little so you might understand the basics

Assuming a person buys a house under a limited company.

The person does not buy it, the limited company buys it and it will then be owned by the LTD

The person passes away.

Depends on what that person is. Do they own the LTD company, i.e. have all the shares? If they die the LTD company as a whole is passed on. Assets, cash, the lot.

Does whoever takes ownership of the house have to pay inheritance tax?.

They don't take ownership of the house, they take ownership of teh LTD company that owns that house.

To get the money to a person the house must be sold by the limited and the money paid in to the LTD bank account. The person owning the company will then have to liquidate the company and move the money out to their personal account by paying dividends (and some other distributions depending on how it's done) so they will most defintely be taxed on that.

As the LTD has value then yet at some point it will be liable for inheretance tax as well but it's complicated.

Can buying a house through a LTD be a way to get around inheritance tax then no and there are a lot of other taxes to consider.

Why not actually describe what you are trying to achieve as a question, as stupid as it is, just looks like you are trying to run some sort of a scam. With a bit more context and detail we might actually be able to help you.

[northernladuk]

If anyone buys a house through a limited with so little clue of what they are doing then they are an idiot.

EDIT : Should you not be asking how that will be taxed if you are a british citizen residing in Turkey?

[WTFH]

What do you mean buy “buying a house under a limited company”?
if a company buys something, the company owns it. That company asset cannot be passed on to someone outside the company.

[malvolio]

They wouldn't inherit the house they would have to inherit the company that owns it. On that basis then probably yes but it can get complicated.

[Bidi]

Assuming a person buys a house under a limited company. The person passes away. Does whoever takes ownership of the house have to pay inheritance tax?.