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Can we compare property sales with stamp duty?

Should the ways to exempt property sales from stamp duty be removed?

(All those million pound plus houses sold - do they pay stamp duty? Almost certainly no... )

I have read that one game is:

Set up an offshore company to own your house

When you come to move, instead of selling the house you sell 100% of the shares in the company

The house's ownership has not changed hands so no UK stamp duty is payable

You have to have done your homework, to make sure that whichever tax haven your company is registered in will not want a slice of the action

Altogether sounds risky, possibly illegal, and would depend of finding a sophisticated buyer willing to play the game?

Edit: clearly this wouldn't exempt you from paying stamp duty when you (or rather your company) bought the house initially. The more I think about it the more ludicrous this idea sounds. There must be other benefits?

Edited by levoleurdefruits
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  • 429 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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