• First Time Buyer Status

    By Guest on 10th Jun 2020

    If a friend and I purchase a buy-to-let residential property through a limited company, would we still be deemed "first-time buyers" for stamp duty purposes when we come to buy our own residential properties in the future? And how can we be sure that advice we take on this is accurate? (Could be very costly to us down the line if we are given the wrong advice).

  • 6 Answers

    By NotaryExpress on 11/06/2020

    See the HMRC FTB guidance here: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/759714/Stamp_Duty_Land_Tax_relief_for_first_time_buyers_-_guidance_note.pdf

    Specifically Chapter 3 definition of First Time Buyer. I would advise you consult a professional tax specialist such as Sam Holloway over at M&A Partners to ensure you receive reliable professional advice.

    www.notaryexpress.co.uk

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