Hi all, I own a business with my father and we are looking at buying our premises. Problem is I am in debt up to my eye balls in IP's but in 12-24 months I should be ok. What I want to do is have my father buy the property now and then I buy/takeover 50% of the property from him once I've paid some debt down. I obviously don't want to trigger a stamp duty event when I buy 50% of the property from my Dad (he will have already paid stamp duty when he purchases the property so it's silly to pay any stamp duty again).
Can anyone see a way around this? Possibly buy in a company/trust?
Thanks
Can anyone see a way around this? Possibly buy in a company/trust?
Thanks