Buying property and Hmrc

[newtothis15]

How to buy property so that our name not on Hmrc record

Could you explain this in a bit more detail please?

So you are asking for advice on how to evade paying tax?

My sister would pay tax it just there is situation when we cannot have 2 nd property

Well then don’t have a second property!

Only if your preference is fraud and a criminal record and potential custodial sentence over paying some tax

You either own the property or you don’t. If you own it you pay the SDLT, if it’s a second property you pay additional rate SDLT. If you don’t own it then obviously there is no tax to pay.

No solicitor or conveyancer is going to assist you with tax evasion OP. We make clients sign forms with their SDLT position and liability spelled out.

There are different ways to hold property so it does not need to be in your name at the Land Registry but (a) they all have complexity and (b) if your main motivation is that you want to legally avoid paying double SDLT then they probably don't help you as the SDLT legislation looks (in essence) as beneficial ownership.

Set up a company. Buy the property via the company. The property is then in the company name not yours.

However, the stamp duty is higher (5% extra I think)

I’m sure we would all like to be able to do that. No you can’t tax dodge. Even if the property doesn’t attract stamp duty the legal firm will still have to submit a tax return.

Trying to buy a house with undeclared income, then giving money to your sister to pay the tax???