Question:
Can we transfer a currently owned and let property to a company without huge taxes?
Arthur Weller replies:
If you transfer a personally-owned rental property to a company that you own, you will (a) have to pay capital gains tax based on the present market value of the property, and (b) be liable to stamp duty land tax, again based on the present market value of the property. I can only say to you that I have spoken to a number of people who wanted to transfer a rental property to a connected limited company for various reasons, but after discussion found an alternative that was more tax-efficient. This may apply to you.
