Is VAT recoverable on a hybrid car bought for both work and personal use?
- Publish date: 01 May 2016
- Archived on: 01 May 2017
Q: I have married couple clients who have a rental property business. They are looking at incorporating by transferring the properties into an LLP in the first instance and then into a Ltd company – what is the position re SDLT and CGT?
A: Ordinarily, a transfer from personal ownership to a connected company attracts a SDLT charge under s53 on the market value.