Stamp duty avoidance

Legacy_user

Hello Folks,

Doe any one how one could avoid the 3% SDLT on second home ownership when purchasing at 40k ?

My wife and I own three properties; one (main residence) as joint tenants, and two others (BTL) as tenants in common.

To buy another >£40k would mean paying 3% SDLT correct? Or could I buy in a company name or solely in my name/ wife’s name, or is there another way to avoid?

Many thanks.

davidmcn

No, there are no such ways of avoiding it. Buying in a company name would be an obvious loophole, which is why all residential purchases by limited companies have the supplement applied.

theartfullodger

Yeah, easy, give your current properties away. Genuinely.

My old Dad (born 1903, WW2 PoW etc) thought part of patriotism was paying your taxes. Sadly so many these days think otherwise.... and prefer shouting at the Tele when Engerland play the traditional enemy

00ec25

theartfullodger wrote: »

r shouting at the Tele when Engerland play the traditional enemy

Vive la France, Vive l'Empereur

da_rule

ritfor wrote: »

Hello Folks,

Doe any one how one could avoid the 3% SDLT on second home ownership when purchasing at 40k ?

My wife and I own three properties; one (main residence) as joint tenants, and two others (BTL) as tenants in common.

To buy another >£40k would mean paying 3% SDLT correct? Or could I buy in a company name or solely in my name/ wife’s name, or is there another way to avoid?

Many thanks.

Your post is somewhat confusing. In the first paragraph you seem to suggest you are buying a property for £40,000? If this is the case then there is a way to not pay the higher rate, which is to buy them property for £39,999.

You then, in the last paragraph, say that you are looking at a property for more than £40,000. If this is the case then, as everyone else has said, there is no way to avoid the extra SDLT beyond selling all of your other properties.