Stamp Duty in the UK is a hefty tax on property.
A property purchaser has to pay a tax just for the benefit of buying a property, probably already using taxed income, even if that property is of benefit to society, for example, providing affordable housing. (not that I resent paying tax...but some taxes are just downright daft and Stamp Duty is one of them!)
Stamp duty in England and Wales is bad enough...in Scotland it's driving people out and slowing growth as the rates there are even higher.
In fact it has slowed down sales of property over a certain size, so much, that sales were down 31% in one month compared to the same month in the previous year.
Tax take in Scotland was down £25m due to the tax rises.
Cutting tax rates usually results in an increase in revenue; but this seems to have passed by the Scottish Government.
Anyway, when tax rates go up, the desire by entrepreneurs and companies to find ways to lower them, is the one thing that does increase.
So is there a way to reduce Stamp Duty in the UK to zero?
Yes there is.
Now please note, this is not an evasion or avoidance or a DOTAS product. This is simply down to the way you buy the property and it works whether you are paying with cash or mortgages.
This method has been used on almost 3,000 property transactions since March 2012 (when the rules changed) and 90% of solicitors and accountants don't know about it but it is perfectly, legally robust.
Many High Net Worth investors, Angels and property developers have used this and continue to use this to pay the exact amount of tax due; and by this method, the exact amount of tax due falls below the threshold for payment, hence it always comes to zero.
If you want to find out how and are seriously motivated by saving or are staring down the barrel of a potentially large SDLT bill, then get in touch; Ray at RaisingAngelFinance dot co dot uk and I will put you directly in touch with the law firm that specialises in this and help save you a fortune!
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