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Is stamp duty due, gifting property to a company?
Mark300zx
Posts: 194 Forumite
in Cutting tax
I am considering setting up a company and wanted to know if I gift a property to a company with myself as the sole shareholder, do I have to pay Stamp Duty?
0
Comments
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broadly yes, you are a connected person to the company
see the Finance act 2003 section 53
http://www.legislation.gov.uk/ukpga/2003/14/section/53
unless you can prove one of the exemptions
http://www.legislation.gov.uk/ukpga/2003/14/section/54
which I don't think you will be able to.0
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