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Stamp duty - Part 4 and section 55 of Finance Act 2004
Tax Planning and Financial

Newbee
Newbee
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94 Posts
10 months ago
0

Hi

I have purchased a BTL property through my limited company in 2021 from my wife. We have moved to another house on the same day. However, we have not changed the addresses immediately. The teants have moved in after 2 weeks. We had occassional visit to the property due to repairs, safetyl checks and cleaning. Now we have received a letter from HMRC stating the two weeks period could be treated as the director of the limited company lived in the property for two weeks as per section 55, Part 4 of Finance Act 2004. and hence we have to pay additional stamp duty. So, I am trying to understand what is the technical definition of living in the property as per section 55. Any guidance of this will be greatly helpful.   

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