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Reply to: Stamp Duty Avoidance
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Previously on "Stamp Duty Avoidance"
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The actual schemes are complicated, involve buying the property via an offshore business (no stamp duty on buying business premises) and then transferring the property to you.
If HMRC doesn't notice, you get away with it and if the property is expensive, you save a fortune.
If HMRC do notice, you get a lot of grief and possibly have to pay the money you should have paid.
It's a punt like driving 150 mph down the motorway at night. Fun if you don't get caught, not so fun if you do.
HTH BIDI
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Originally posted by d000hg View PostThat sounds massively dodgy to me! Would you not have to pay two sets of conveyancing fees? And presumably if you want a mortgage this is a non-no as well?
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Originally posted by speedo View Postif you Google it there are companies that help you do this - their policy is something like the following - as you exchange, you exchange again to an agent who then sells the house back to you again..... the whole exchange and exchange occurs simultaneously and therefore eliminates the stamp - the 50% is the fee to the agent.
I am sceptical so wanted to know if anyone has carried this out without any issues?
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Originally posted by Martin@AS Financial View PostInterestingly enough, the Labour Party used a mitigation scheme to save themselves £210,000 in stamp duty:
Labour's 'tax dodge' on sale of HQ saved £210,000 stamp duty - UK Politics - UK - The Independent
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Originally posted by TestMangler View PostAnd he doesn't mean a pic of your sisters face.......
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Originally posted by northernladuk View PostOh, just to note both said forget it as well. It's not worth it.
Interestingly enough, the Labour Party used a mitigation scheme to save themselves £210,000 in stamp duty:
Labour's 'tax dodge' on sale of HQ saved £210,000 stamp duty - UK Politics - UK - The Independent
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It's also not allowed any more. I was looking to get a new place a few years ago and was told that it had been stamped down on hard.
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Oh, just to note both said forget it as well. It's not worth it.
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