Landlords Are Using Companies To Dodge The Stamp Duty

Buy-to-let mortgage lending is booming ahead of the Chancellor’s tax hike – with a soaring number of landlords reportedly using companies to flout the crackdown. Landlord loans rocketed by 22 per cent in January compared with the same month in 2015, as buyers rush to beat the forthcoming tax changes. From April 1, buyers of second homes will pay 3 per cent additional stamp duty on property purchases. As the proposals stand, individuals who hold more than 15 properties may not have to pay the tax - and companies holding at least that number will be exempt from stamp duty when they buy more. Some specialist landlord firms are now reporting as many as 50 per cent of all sales being made through corporations - a move that could prove to be more beneficial for tax on rental income. Read more on the Daily Mail website.