January 27, 2023

Business Owners: If you transferred property into a pension scheme you may be owed a stamp duty fund!

If properties have been transferred into Sipps or SSAs then exempted of stamp duty may be applied. However, it is only applied if the property is jointly owned by various parties. Many pension trustees and advisers were not made aware and on average people have wrongly been made to pay approximately £50,000. The pension scheme the asset is being sold to must also be in the name of the same partners, or people connected to them. Stamp duty is due on such transfers apart from in very specific and limited circumstances. Each case needs to be considered on its own merits.

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Are you owed your Cornerstone Tax money?

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