Give away property

MelaBella

GDB2222 wrote: »

I think the OP is asking for advice on how to defraud the government. He will actually sell the property to his girlfriend, but he wants to dress it up in such a way as to avoid stamp duty. He wants us to conspire with him to do that. Personally, I am out of here.

Of course, thats what he is asking he wants to sell off the property perhaps for the amount less than £125K then he doesnt need to pay tax at all. I guess the whole idea is that they own 2 houses, so he wants to minimize the side costs, as i guess stamp duty will be coming from their mutual budget (or even his budget only)

OP wants my honest opinion? if your only reason is to avoid stamp duty, all the attemppts and complex evasion schemes just not worth the efforts.

raoh

Thanks for all the comments guys!

I just thought there may be a easier/cheaper way to sell my property to my girlfriend since she can just transfer the money to me and I can transfer the name to her etc. Turns out there's none. I'll talk to a property solicitor and go from there.

MelaBella

raoh wrote: »

Thanks for all the comments guys!

I just thought there may be a easier/cheaper way to sell my property to my girlfriend since she can just transfer the money to me and I can transfer the name to her etc. Turns out there's none. I'll talk to a property solicitor and go from there.

there is no easy way and the whole idea sounds too risky. I undetsand the other purpose is that you want to purchase another property, so wanted to get rid of that one and register to someone esle, i.e. your GF (sorry didnt bother to read the whole thread so might be wrong here).

good luck anyways

noh

raoh wrote: »

Thanks for all the comments guys!

I just thought there may be a easier/cheaper way to sell my property to my girlfriend since she can just transfer the money to me and I can transfer the name to her etc. Turns out there's none. I'll talk to a property solicitor and go from there.

Which is of course what happens when a house is sold. If there is a mortgage that has to be cleared before the title is transferred.
There is no legal way for you to avoid SDLT

MelaBella

noh wrote: »

Which is of course what happens when a house is sold. If there is a mortgage that has to be cleared before the title is transferred.
There is no legal way for you to avoid SDLT

And what if the property is not mortgaged? Just take the possibility that there 2 people (not married partners, relatives, whatever, assuming there is no issue of mistrust between these 2 parties), 1 partner sells property to another partner for the price less than £125 and consequently buys another property? Given that they have mutual budget and stamp duty fees has to come out their pocket anyway it saves then money. Of ocurse there are too many "if's"...

Thegirl

Get married

tom9980

Thegirl wrote: »

Get married

You read my mind, just get married job done assets now shared.