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Is VAT recoverable on a hybrid car bought for both work and personal use?

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This page has been archived because it is no longer current information but is still relevant, or it is current but over 12 months old
  • 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.