Avoiding Stamp Duty on transfer

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
 
Alternatively, why not try to get a suitable property under lease with an option which can be executed up to 2 years away?
 
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

You wouldn't want to buy a commercial property in your own name generally. Look at a discretionary trust where no change in ownership, whether beneficial or legal, would be needed.

Alternatively a Unit trust or a company where the legal ownership can remain the same but shares or units transferred.
 
You wouldn't want to buy a commercial property in your own name generally. Look at a discretionary trust where no change in ownership, whether beneficial or legal, would be needed.

Alternatively a Unit trust or a company where the legal ownership can remain the same but shares or units transferred.

Great, thanks Terry.
 
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