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SLDT and property ownership
Comments
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What OP is proposing is not a clever idea for SDLT.1
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Thanks for all the advice. Maybe the best way forward is to buy a site and build a new house. The site would be below stamp duty threshold and the building materials VAT free.
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Always love an attempt by grown up adults who think about involving their kids in order for them to save /(evade) taxes …. how nice of you! I am sure they would be thrilled to understand the full implications that could have on them!
and the 10k savings … you gonna split with them?1 -
They'll get it all eventuallySchwarzwald said:Always love an attempt by grown up adults who think about involving their kids in order for them to save /(evade) taxes …. how nice of you! I am sure they would be thrilled to understand the full implications that could have on them!
and the 10k savings … you gonna split with them?1 -
Too add, you don't get discounted for all FTB rates because they own a home. Nationwide for example go on when you last held a mortgage, so at this time they would qualify for that.jgcfmt said:I- Their FTB status is compromised so in the future they will never be able to benefit from FTB exemptions on SDLT or preferential mortgage rates e
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We have recently sold a flat that we rented out. We had to pay Capital Gains Tax. We didn't like paying it, but held our noses and paid it.
Just pay the tax and don't encumber your children.
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Just pay your tax. Blimey.2
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