Buying properties through limited company

ileven1225

Hi everyone,


I registered a company recently and have decided to purchase any future buy to let properties through my limited company, easy to manage.



I have a number of questions and I haven't found answers in this forum or using google:

• Do I still need to pay stamp duty if my ltd company buying a property from another limited company?

• Transfer a property under my name to my limited company, CGT and stamp duty will be triggered even under £0 consideration. However, i was told that SDLT is not payable where a partnership transfers assets to a Ltd Co where Schedule 15 FA 2003 is applicable. is it correct?

• If the above is correct, both my wife and I have a shared ownership (50% each) mortgage free property, if i transfer it to my company, I can exempt from SDLT?

• Do I have to use an account which would cost £800-£1200 per year? I believe I could do those calculations. However, i also know that a limited company might need a qualified accoutant for legal reasons.

Thanks in advance!

anselld

If you buy from LTD you would still pay SDLT unless you buy the whole Company, ie all the shares with the property in it.

You cannot transfer your own property without incurring SDLT and CGT if applicable since it would be treated as a disposal to a connected party.

You don't need an accountant for legal reasons, however you do need to know how to complete accounts, companies house filings and Corporation tax returns correctly. It would be risky to try to learn that from the internet.

ileven1225

anselld wrote: »

If you buy from LTD you would still pay SDLT unless you buy the whole Company, ie all the shares with the property in it.

You cannot transfer your own property without incurring SDLT and CGT if applicable since it would be treated as a disposal to a connected party.

You don't need an accountant for legal reasons, however you do need to know how to complete accounts, companies house filings and Corporation tax returns correctly. It would be risky to try to learn that from the internet.

Thanks.



Does my ltd company pay the same SDLT rate as if i purchase under my personal name?


As I don't have many properties, I would imagine all calculation would be straight forward. Learn from internet is risky. However, I could use an accoutant for my 1st year and learn from him, then I should be able to do all by myself.