Avoid Stamp Duty On Investment Property: In a recent interview, I speak to Tatiana from RSL Law, a top UK property lawyer, to expose the truth about stamp duty. Stamp duty can be a huge expense when buying a property, particularly if your lawyer doesn’t understand the process. Luckily, Tatiana knows the rules inside out, and she was happy to share her wisdom!
This interview could save you thousands of pounds in stamp duty. If you are a property investor, you can’t afford to miss this one! If you want to learn how to avoid stamp duty on investment property legally, watch the full video until the end!
In the interview, we talk about a number of ways to reduce or eliminate stamp duty on certain types of investment property. In this article, I will give you 3 of those stamp duty secrets! If you apply these lessons to your own portfolio, you could save a lot of money.
Every case is different, and this article is intended for informational purposes only. Please seek independent legal advice before taking any action.
Every property investor wants to know how to avoid stamp duty on investment property. Please consider sharing this article with your friends on social media. This article could put a lot of money back into your followers pockets, and sharing it is a great way to provide value to them!
1. Avoid Stamp Duty On Investment Property: Replacing Your Main Residence!
If you replace your existing home, you don’t need to pay the second home stamp duty surcharge. If you sell your existing house within 3 years of buying your new home, you can claim the money back from the tax man.
One property investment strategy involves buying a house to live in. While living there, you do the property up, and increase the value. Then you can sell the property and buy a new residence. If you do this correctly, you shouldn’t need to pay the second home stamp duty surcharge!
2. Avoid Stamp Duty On Investment Property: Uninhabitable Property!
If a property is uninhabitable, you may be able to claim a stamp duty exemption. Uninhabitable is somewhat of a subjective term, although HMRC does provide limited guidance. It is for you to assess if the property is uninhabitable, and to collect evidence to justify that assessment.
Although this is meant to be self-assessed by the buyer, some lawyers will refuse to say a building is uninhabitable, even if you tell them to do so. Choose who you want to represent you wisely!
3. Avoid Stamp Duty On Investment Property: Commercial And Mixed-Use Properties!
Commercial property has a much lower rate of stamp duty. If you buy a shop, an office building, a bank building, etc. you will qualify for this much lower rate.
However, this also applies to mixed-use properties. Mixed-use properties are properties with a commercial element and a residential element. For example, a shop with flats above it. Even if the residential element is much larger than the commercial element, this lower rate still applies!
How To Avoid Stamp Duty On Investment Property And Other Property Secrets!
Now you know how to avoid stamp duty on investment property and save thousands! Why not learn the property secrets that could make you rich? Join me at my next introductory training event!
We have different courses throughout the year, each teaching different things. Here is a sample of what you could learn on one of our popular introductory courses:
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Become a property investor using other people’s money so that you can get started straight away
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Utilise the 5 different types of raised finance so that you know exactly what to offer and when
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Find the perfect properties for the BRRR strategy
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Recycle your money so that you can ‘rinse and repeat’
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Build a power team you can trust, so that you can save time and money
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And much more!
Tickets aren’t expensive, so book your property training day now. If you are ready to take action, I hope to see you very soon! If you can’t make it in person, we also have virtual events too!
