T
The President
Guest
I own a 40% of a company that owns a commercial investment property.. nothing else. There are two other shareholders holding the other 60 % - the property is valued at 600K, with a 400K mortgage.
The other 2 shareholders want to realise their investment, which I buy from them ie so I will own 100% of the company / property.
My question is on the best way to do this from both a minimizing Stamp duty perspective, and also from minimizing my borrowings. Are we better to put the property on the market, have me buy it and pay full stamp, or since its a company, have me buy out the 60% shares I don't own, which will cost me less as I would be paying the net value ie property value less the mortgage.... then I could pay less stamp duty on this amount? Or am I missing something?
The other 2 shareholders want to realise their investment, which I buy from them ie so I will own 100% of the company / property.
My question is on the best way to do this from both a minimizing Stamp duty perspective, and also from minimizing my borrowings. Are we better to put the property on the market, have me buy it and pay full stamp, or since its a company, have me buy out the 60% shares I don't own, which will cost me less as I would be paying the net value ie property value less the mortgage.... then I could pay less stamp duty on this amount? Or am I missing something?