You better let her know before she shells out tens of thousands £££££. You could then tell her how to invest it in premium bonds
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Raynor the tax dodger
- Thread starter gas112
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Im not up on all this property lark....
So if I put my house in a trust for my son and buy another house I dont need to pay stamp duty?
I think there's a higher rate when you buy a second home.
She sold it to his trust
That seems to be how she got the money to fund the Hove purchase.
Where did her son get the money.
Sounds like compensation because of a birth problem.
Just read something saying he was premature.
I read there was an award because of an incident to do with that. But all very vague.
If you already own one home, you have to pay a 3% higher rate of stamp duty when you buy a second home.
AR was advised that if she put her current house in trust, she would no longer be the legal owner of that house. That meant that when she bought the flat in Hove, that flat would be the only property she owned. Which means she would have paid the normal rate of stamp duty on that flat, rather than the one which is 3% more.
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Thanks....so she probably done the trust so she didn't have to pay that extra 3%? Maybe?
That is the accusation.
She tried to be fly and feked up basically
From what I understand the trust means Rayner and her ex husband are effectively the “owners” until said child is 18 and hence why it’s still considered partly hers.
And hence SDLT is payable @ 5%
