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Transferring property from one ltd company to another

  • 18-10-2017 7:42pm
    #1
    cheadle999
    Registered Users, Registered Users 2 Posts: 15 ✭


    I bought a commercial property in a ltd company where I'm director and 100% owner. For structural reasons, I need to transfer this property out of the company and into another company which I set up. Is there any way of avoiding the stamp duty on it? Thanks


Comments

  • #2
    Tigger
    Closed Accounts Posts: 16,705 ✭✭✭✭Tigger


    would you not have to sell it to the other co?


  • #3
    cheadle999
    Registered Users, Registered Users 2 Posts: 15 ✭cheadle999


    Tigger wrote: »
    would you not have to sell it to the other co?

    Sorry yes I meant sell


  • #4
    thegolfer
    Registered Users, Registered Users 2 Posts: 346 ✭✭thegolfer


    cheadle999 wrote: »
    Sorry yes I meant sell

    Presently I am unaware of the structural requirements of the companies, may be due to funding, ownership requirements etc...

    However, if the companies were in a group, say the two companies were owned by one parent company, then on meeting the relevant conditions the property could be transferred intragroup without the exposure to stamp duty.

    I do stress that there are more considerations to be taken account of than the above.

    If you are not in a group then this would not be feasible, and SD would crystalise on the sale, from A to B.

    Another point to note would be to get advice from a tax adviser as if you were to set up a group etc..then their fee would possibly now be lower than the SD, and the savings of the SD would in effect pay for themselves.

    Best talk to your accountant\tax adviser...


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