This week on Ask Rob & Rob, Raj asked:
Do I need to set up a new limited company? (And can I use it to avoid paying stamp duty)?
Firstly: yes. You do need to start a new limited company from scratch. Brand new company to buy your first property through. Once you’ve done that, you can do something clever with your existing company – we’ve even made a free video course (see the show notes) to guide you through the specifics of that.
In terms of stamp duty: yes again. You do need to pay the 3% stamp duty, and that’s the case for all the properties purchased through the company. For these kinds of tips and more, be sure to check out The Property Hub Magazine, where we go in for a deeper dive on lots of property topics.
Links mentioned in this episode
- Should you use a limited company to invest in property – free video course
- The Property Hub Magazine – subscribe here!
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