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Issue:
4911
/
Categories:
Comment & Analysis
, Buy-to-let
, stamp duty land tax
, TCGA 1992
, Business
Incorporation
Key points
- There are three key difficulties to surmount for a tax efficient ordinary incorporation of a BTL into a company.
- Effect of Ramsay v CRC [2013] STC 1764 on capital gains tax incorporation relief.
- HMRC removed the advance clearance facility for incorporation relief for property and any other business.
- The transfer of a buy-to-let from a partnership to a limited company may qualify for what is referred to informally as partnership SDLT relief.
- Possible fallout from HMRC’s Spotlight 63.
Following on from Dan Neidle’s and my article ‘Landlords beware’ (Taxation 26 October 2023) on HMRC’s Spotlight 63 (tinyurl.com/hmrcspotlight63) and a mixed corporate partnership structure which HMRC have pointed to as a ‘scheme’ this article reflects on why some buy-to-let (BTL) landlords have been attracted to such structures why practitioners have differing views on standard incorporations of BTL’s into a single limited company and...
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