I'm considering incorporating my 3 buy-to-let properties to escape Section 24. What are the *exact* costs involved (SDLT, capital gains elections, legal fees) and what's the typical timeline for a seamless property transfer to a limited company?
Quick Answer
Incorporating buy-to-let properties incurs significant costs, including Stamp Duty Land Tax (SDLT) at 5% for additional dwellings, Capital Gains Tax (CGT) at 18-24%, and legal/valuation fees from £3,000-£7,000 per property. The timeline often spans 4-9 months.
About This Topic
Transferring BTLs to a company incurs a 5% additional SDLT and 18-24% CGT. Legal fees range £3k-£7k per property. Timeline: 4-9 months.
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