Тёмный

Three Ways To Avoid 3% SDLT Surcharge On BTL Property Purchases 

Ranjan Bhattacharya - Succeed In Property
Подписаться 72 тыс.
Просмотров 50 тыс.
50% 1

In 2016, Chancellor George Osborne introduced a 3% SDLT surcharge on all investment property purchases. Many buy to let investors stopped buying in high value areas like London and the South East because the SDLT surcharge made the purchase uneconomic.
But if you know how, the 3% SDLT surcharge can be completely avoided. In this video Ranjan Bhattacharya shares 3 ways to avoid the 3% SDLT surcharge on your buy to let investment property purchases.
Bewley case referred to in video
+++++++++++++++++++++++++
www.step.org/news/seriously-d...
Government SDLT Calculator
++++++++++++++++++++++
www.tax.service.gov.uk/calcul...
Come and join us at the next Baker Street Property Meet
Monthly Networking Event
+++++++++++++++++++++
www.succeedinproperty.com/bake...
How To Build A Successful Commercial Property Portfolio - Workshop
++++++++++++++++++++++++++++++++++++++++++++++++++++++
bakerstreetworkshop.com/
12 Month Mastermind Programme For Commercial Property Investors & Developers
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
corporate-mastermind.com/
Lets Connect On Social Media:
++++++++++++++++++++++++
Facebook - / ranjanproperty
Instagram - / ranjanbhattacharya_pro...
Disclaimer:
The content provided on this channel is intended for informational and educational purposes only. We offer general pointers and insights, but we do not provide personalised advice. It is important to understand that the information shared in our videos is accurate to the best of our knowledge at the time of their release, but it may not be applicable or up-to-date at time of viewing.
Viewers are encouraged to seek professional advice and consult with their own advisors to determine the applicability of any information or guidance provided on this channel to their specific circumstances. We do not accept any responsibility for actions taken based on the content presented here.
Please use your own discretion and critical thinking when applying any of the information shared, and keep in mind that individual situations can vary significantly. Remember that the content on this channel is not a substitute for professional advice.

Опубликовано:

 

5 авг 2024

Поделиться:

Ссылка:

Скачать:

Готовим ссылку...

Добавить в:

Мой плейлист
Посмотреть позже
Комментарии : 87   
@ranjanbhattacharya-succeed7617
Join us at this month at the UK's No 1 Property Networking Meet, @t
@TheEndIsNearerThanYouThink
@TheEndIsNearerThanYouThink 3 года назад
you missed that 6 or more residential dwellings is also classed as commercial
@jannatunferdous2013
@jannatunferdous2013 2 года назад
Where is it
@arturo468
@arturo468 5 лет назад
Save yourself some time and fast forward to 3:05. Life is too short to listen to unnecessary chat.
@jaystanley3996
@jaystanley3996 3 года назад
Legend!
@AlfredDzadey
@AlfredDzadey 3 года назад
Thank you! 🤣
@samiisaboss5067
@samiisaboss5067 2 года назад
I love your videos and have watched so many! You’ve inspired me loads and have recently purchased a BTL property!
@AnishPandey
@AnishPandey 5 лет назад
Thoroughly enjoyed, valuable content, cheers!
@charming1977
@charming1977 4 года назад
Excellent content Ranjan. Surprised why so little awareness about it. Please keep them coming.
@samarshi539
@samarshi539 5 лет назад
Many thank you Ranjan for the information.
@jatanshah5260
@jatanshah5260 5 лет назад
Your videos are so informative. Keep up thr work please. Thank you
@DrAAAli
@DrAAAli 5 лет назад
There are other creative treatments out there and some organisations actively pitch their sdlt avoidance schemes (perfectly legit) via accounting treatments, you may also have a large property with several titles that would almost cancel out sdlt and so on. Thanks Ranjan, great video.
@venudr
@venudr 4 года назад
Amazing Ranjan. Thank you for sharing
@bb-st1cs
@bb-st1cs 4 года назад
Fantastic information may keep up good work
@anjumguppy695
@anjumguppy695 4 года назад
Thanks Ranjan. Great video.
@garyhodge7861
@garyhodge7861 5 лет назад
In your first example it is the SDLT that has been reduced to £5k, there is no reduction in the surcharge. In the third example the judge decided a derelict property was not a dwelling and non residential rates apply, therefore it would be £14.5k, the same as the commercial/mixed use example.
5 лет назад
Thanks for such useful info..'
@MrNessav
@MrNessav 4 года назад
Hi Ranjan ,great work you do here.Could you clarify your 2nd way on in your video regarding commercial property with mixed use.If I only buy a flat on a separate lease above a shop ( and not the shop itself) will the 3% still be applicable.Thanks in advance
@beyondthesea663
@beyondthesea663 4 года назад
Great content! But please check your sound levels. There was lots of crackling and bad audio on this one. Hopefully fixable post production. But thanks for the video!
@andrewcarr9239
@andrewcarr9239 4 года назад
Can you please show your workings when making calculations, would make it so much easier to understand, rather than having to go to secondary sites to check stamp duty rates etc. Thanks for the video
@milindrakh
@milindrakh 4 года назад
Hi, I own a house with my wife. We are looking to buy a second home but keeping the current one. Is there a way using a trust to reduce my SDT? Thanks
@YBrar-cv4ue
@YBrar-cv4ue 3 месяца назад
Thanks
@aryehelectricalltd7247
@aryehelectricalltd7247 4 года назад
whats going to be the change for march 11 2020 about stamp duty for buy to let under 500k ? and I it true if I got a lot of property I get cheaper ? or if I buy on a new company ? thanks harie
@tonyhumphreys809
@tonyhumphreys809 4 года назад
So just for clarity, if a property is inhabitable then there is no stamp to pay? Does this still apply f buying in a limited company?
@reconforsales7708
@reconforsales7708 4 года назад
Hi, I am in the process of buying a BTL on a 600K property. Its a Residential property. I have been told that if I don't pay the stamp duty within 14 days, I can be fined capped at £300 and will have a year to pay it off. Is this true?
@kamgunner5920
@kamgunner5920 2 года назад
On the MDR example you see 4 dwellings at completion! Can I ask would you achieve that by having a delayed completion? Also is that 4 minimum or max dwellings to get MDR? Thanks.
@clivet3846
@clivet3846 3 года назад
Always interesting ... but maybe invest in a decent off camera microphone ;)
@JackKing12.
@JackKing12. 4 года назад
Are underlease flats best to stay away? Thanks...
@xbates537
@xbates537 3 года назад
I bought a house with 4 flats in it but under one freehold title. Am I allowed to applied the MDR?
@terrydavis6368
@terrydavis6368 5 лет назад
stamp duty was brought in to fight the napoleonic war and they promised the tax would be abolished when the war ended.
@ranjanbhattacharya-succeed7617
Thanks for the clarification. Its funny how these 'temporary' taxes become permanent?
@terrydavis6368
@terrydavis6368 5 лет назад
@@ranjanbhattacharya-succeed7617 Yes it probably results in less tax revenue generated also as tax reduces growth. Thanks for these videos I have learned a lot of important information from them. Property on youtube is a minefield of people trying to sell seminars for thousands of pounds. There are very few channels like yours that just give useful information.
@mj897
@mj897 5 лет назад
@@ranjanbhattacharya-succeed7617 not true...that was income tax..it gets extended every July in parliament.
@alitopq
@alitopq 5 лет назад
Another reason to invest abroad
@j.a.c.kgaming4061
@j.a.c.kgaming4061 5 лет назад
So can we be cheeky if going to renovate, ie rip the bathroom out before exchange/completion if vendor allows ;)
@rogerrodrigues5971
@rogerrodrigues5971 4 года назад
What was the name of the case which won against the HMRC?
@jeffocarroll7848
@jeffocarroll7848 Год назад
So my question is : what reasons make a property uninhabitable? Full refurb needed? Damp problem?
@praveensharma4106
@praveensharma4106 5 лет назад
Great
@davidmcbride4401
@davidmcbride4401 Год назад
If you purchase a portion of a second home worth less than £40,000, is SDLT still payable on the whole amount if the purchase price of the second home is more than £40,000?
@hirenpatelx
@hirenpatelx 4 года назад
I have 7 buy to let properties and I have one commercial property which is shop and flats Upstair I hv lived 26 years in it , now I hv bought property 2017 for £500000 I paid stamp duty 30000 , I hv redeveloped the property in 15 months have I eligible for refund on stamp duty? Thanks ranjan
@harryrock169
@harryrock169 4 года назад
Hi Ranjan, thank you for taking your time to share some useful info. Would you be able to advise whether I need to pay 2nd home stamp duty (I currently own a home where I live up north mortgage free but looking to buy a 2 bed flat in London around £375k where I’m thinking of residing , so do I need to pay the 8% stamp duty ? Or anyway avoiding the additional 3%? Thank you for your reply.
@novembermoon9909
@novembermoon9909 2 года назад
Do U know what a MR01 is please why would a company property have a MR01 charge registered with companies house evidenced by instruments meaning
@ThisIsMTH
@ThisIsMTH 4 года назад
Not sure who you are and I’ve only watched a couple of your videos, but it pays to head north of Watford once in a while. You mention ‘north vs south’ a lot, but there are many pockets that are far more costly than the SE, FYI.
@ranjanbhattacharya-succeed7617
@ranjanbhattacharya-succeed7617 4 года назад
You are absolutely right. We also have proeprty outside the M25. Regulars on the channel, know that I am prone to making London centric jokes!!
@weichengcn
@weichengcn Год назад
Hi Ranjan, at which point is MDR determined? exchange or completion?
@davidjsupertramp
@davidjsupertramp Год назад
The video states at completion
@solite4168
@solite4168 5 лет назад
Good video thanks! What if you buy a home to live in but you keep the home you are currently living in and rent it out? Thanks
@rabk000
@rabk000 4 года назад
No SDLR to pay as long as it was bought as your first home not an investment property. But if you want to rent it out you will need lenders permission.
@bgurung9046
@bgurung9046 4 года назад
@@rabk000 No, you will still have to pay the high SDLT because the new house that you are going to purchase (even though you yourself is going to live in it!) will be classed as your 2nd home and you have to pay this high SDLT on the 2nd home or beyond.
@rabk000
@rabk000 4 года назад
I am struggling to let two empty commercial units in Gt Yarmouth where there are many empty units in town. I have approached all the local agents but they have too much stock in their books so cannot help. I am told by local architects that PP is impossible due to the location being in Flood Risk Zone 3. Can you cover these sort of issues in a future video?
@truthquest1194
@truthquest1194 4 месяца назад
Is the content of this video still applicable as at 06/04/2024?
@arturo468
@arturo468 5 лет назад
It's not just investment and BTL purchases that are subject to the surcharge. Homeowners moving house pay it as well, if they own another property.
@kbc138
@kbc138 5 лет назад
Can you please clarify, the surcharge applies to more than one property owned regardless if personal or BTL, it does not apply only to investment property. I had BTLs but no personal property and when I bought my first residential to live in with my wife I had to pay surcharge on that property because I own other BTL properties and my wife had her own before I married her. She decided to keep her own and convert to BTL but I was getting penalised because owned other BTL and my decided to not sell her lived in property. Because I married her in 2015 and we bought late 2016 I was shafted. Can you advise?
@akaskhan570
@akaskhan570 5 лет назад
Hi did you pay the surcharge rate on your BTL property (surcharge is extra 3% when your 2nd property)
@kbc138
@kbc138 5 лет назад
@@akaskhan570 My BTL properties where bought years ago and since getting married late in life and late 2015 I decided to buy my first living in property and because my wife had her own place already and wasn't going to sell her property i got slap the surcharge. Had she decided to sell her property within 2yrs then we could claim back the surcharge. But as she didn't want for her own security i remain being slap for getting married to someone who had their own property. I should not pay my portion of the surcharge as it is my first main residence. If you have other info regarding this it would help as HMRC says anything more than one is charged regardless.
@Theglobalpeace
@Theglobalpeace 4 года назад
Appreciate if you could answer these Qs: A 4 bed property (if I get HMO licence) with shared kitchen and one double rooms has ensuite, other 2 double rooms shared bathroom and 4th double bedroom has a downstairs bathroom, would that be qualified for MDR? To qualify as 'Self contained' units each room must have an ensuite and kitchen?
@kamgunner5920
@kamgunner5920 2 года назад
Hi Ranjan, any chance of mentoring? I would be most grateful if I could come along to educate myself of the processes in developing and the workings of the real estate business. I want to see projects in person from start to finish. Thank you.
@ranjanbhattacharya-succeed7617
@ranjanbhattacharya-succeed7617 2 года назад
Check out www.succeedinproperty.com/mastermind This year our masterminded will shadow 4 live projects at various stages of development. We have a few places left for January start.
@lexrondon4204
@lexrondon4204 4 года назад
Wanna piss someone off... Raise their phone volume and send this to them.. bro.....
@rizshah8189
@rizshah8189 4 года назад
HI HOW HAVE YOU WORKED OUT THE STAMP DUTY ON 500K TO BE 30K? IS IT NOT 15K???
@murdo20
@murdo20 4 года назад
Stamp duty plus 3%+ surcharge (another £15k)
@rizshah8189
@rizshah8189 4 года назад
nice 1
@dianekeogh
@dianekeogh 4 года назад
Commercial is: £0-£150,000 = 0%, £151,000-£250,000 = 2% (£2,000), and the remainder is at 5% (£12,500). Total is £14,500. However, if residential, then it is £30,000.
@akaskhan570
@akaskhan570 5 лет назад
Im buying my first property on a buy to let mortgage. Do i have to pay the extra 3% tax
@ranjanbhattacharya-succeed7617
yes. If you are buying your first property for buy to let (whether in your personal name or in a Ltd company), the 3% SDLT surcharge is payable. If you are buying your first ever property for your own occupation, then it is not. (also refer to HMRC SDLT calculator website)
@gary6395
@gary6395 5 лет назад
@@ranjanbhattacharya-succeed7617 I know someone who bought hi first property as BTL, and he did not pay extra tax.
@sahmedt9
@sahmedt9 5 лет назад
@@gary6395 for now....... I guess the solicitors got it wrong as theyre the ones who pay the tax to hmrc on our behalf.
@sahmedt9
@sahmedt9 5 лет назад
Why would you buy your first home as buy to let....???
@akaskhan570
@akaskhan570 5 лет назад
Gary i have checked on hmrc website u dont have to pay the extra 3% on Btl for first time but u wont get the first time buyer discount it will be just normal rate
@albert_zernoff
@albert_zernoff 4 года назад
Hold on... 3% charge based on £500,000 is £15,000..... not £30k ............... Why is that?
@kogantivijay
@kogantivijay 4 года назад
What does he mean by new investors are going up North ? Is he referring to Scotland ! Can someone tell me please
@bgurung9046
@bgurung9046 4 года назад
My understanding is that the North means the North England! I.e. Manchester, Leeds, Nottingham, Sheffield, Newcastle-upon-tyne etc. Properties are very cheap (I have seen some freehold houses from around £30k in the worst parts of some small towns in the North!!!) in the North (North England) comparing to the South (South England), so you won't have to pay as much tax as in the south when buying cheap properties in the North. North can mean Scotland as well (?), and Properties are cheap there too.
@viliuskaralevicius1690
@viliuskaralevicius1690 Год назад
have you been to jail
@silasatlas3835
@silasatlas3835 3 года назад
yep all go the governments coffers and the exchecker ,and the taxman.🕴🕴
@sahmedt9
@sahmedt9 5 лет назад
Are you rich? Lol
@kryptoniteee
@kryptoniteee 5 лет назад
FJ Guy he’s a millionaire.
@robmason320
@robmason320 4 года назад
What's more important is that hes rich in knowledge 👍
@bgurung9046
@bgurung9046 4 года назад
I would say "Ofcourse" he is a multi-millionaire coz he has been a property Investor for 30years already. And that's in the Southeast, and we all know how much of the inflation in the Southeast properties since 1990s.
Далее
How to Avoid SDLT on Residential Properties
8:34
Просмотров 3,1 тыс.