Stamp duty land tax mitigation

Panther_boy

I have seen websites stating that they can save you the cost of SDLT for the equivalent of a 40% fee, thus saving you 60%. Does anybody know if this is legal and if so what does it entail?

G_M

A scam.

With very high value properties there are (used to be?) ways to buy via holding companies but the costs for your average punter just don't stack up, even if it is legal, which is dubious.

Doubtless at some point this company will want an upfront fee (refundable :rotfl:)

HMRC are not stupid. Talk to your solicitor and pay your tax!

Nosht

Legal, & you can do it yourself, DO NOT PAY A FEE FOR THIS.
The last budget, among other interesting measures, gave details of a scheme to average purchases for landlords to minimise SDLT as long as they were for private not commercial premises. It is named Averaging Relief but does not come into effect until the Royal Assent to the 2011 Finance Bill, due in July.

Regards,

Nosht.

FTBFun

Averaging relief is for bulk property purchases - not really relevant here.

timmyt

There are schemes still yes, and some apparently get through, but I hear designed for properties £550k plus and very real chance you could end up with a penalty....all very secretative the actual workings and you have to sign a non-disclosure agreement too, as the scehem is expensive so they dont want everyone doing them