Paul Wood on Stamp Duty Hack That Will SHOCK the HMRC - Ep 40

Get Help With Your Stamp Duty Land Tax
www.sajhussain.com/sdlt
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𝗔𝗯𝗼𝘂𝘁 𝗧𝗵𝗶𝘀 𝗩𝗶𝗱𝗲𝗼
Could navigating the maze of stamp duty land tax be the key to saving thousands on your next property investment? Tax expert Paul unravels the complexities of this often-overlooked aspect of property transactions in our latest episode. We get into the nitty-gritty of why a staggering one in four tax calculations could be sending your hard-earned money down the drain, and how to arm yourself with the knowledge to avoid falling into that trap.
In the world of property purchases, it's not just about location, location, location - it's about taxation, taxation, taxation. Paul shares jaw-dropping scenarios where buyers have found themselves either significantly overpaying or stumbling onto unexpected savings, all thanks to the intricacies of stamp duty. From the enigma of non-inhabitable properties to the potential gold mines hidden in probate purchases, we uncover why expert tax advice isn't just helpful, it's essential.
But what happens when the tools designed to help us can actually misguide us? We discuss the pitfalls of relying on generic calculators for stamp duty liabilities, and how professionals in the field are grappling with the legal and financial repercussions. Paul sheds light on the importance of certified tax advice, whether you're contemplating buying directly or through a company, and equips you with the confidence to face tax inquiries unflinchingly. Join us for an episode that could change how you view every line item on your next property deal.
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𝗖𝗵𝗮𝗽𝘁𝗲𝗿𝘀
00:00 Complexities of Stamp Duty and Taxation
05:31 Stamp Duty in Property Purchases Simplified
13:26 Stamp Duty and Risks for Professionals
23:13 Complexity of Stamp Duty Calculations
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[@TheSajHussain]

What's your thoughts on the current Stamp duty system?

[@anthhub]

It is organised theft!

[@allsearpw3829]

DAY LIGHT ROBBERY , most people buy through a mortgage , so the Barons and their banks are happy , and then the Government want their share ? Self build years ago you never paid stamp duty on the land ?

[@DJLalr]

Daylight Robbery book written by Dominic Frisby clearly explains that Tax is daylight robbery

[@hamzah3138]

Designed by civil servants with a PPE oxbridge degree but sadly no brains.

[@LickorishAllsorts]

Theft.

[@shukeelc5177]

Saj, that was a great interview with real world value. I was actually speaking with a former client about stamp duty complications with his portfolio, so this podcast and Paul might prove to be very useful and help save thousands of pounds

[@celiahall6168]

I’ve had a fair few arguments with my solicitors over stamp duty… they now back down and I’ve had rebates on others. Never trust a solicitor 😂

[@PaulWood-STAMPDUTY]

We now offer advice to solicitors so its right at the start.

[@naidugovind4264]

Good podcast. Very informative

[@amers247]

Great chat . Thanks for the information

[@ruthe6017]

This is useful to know. I purchased a property with my now ex, but we still get on and I have no interest in making her life difficult but trying to force her to move or buy it off me when she can't afford that. Now I want to buy a home with my wife to be and might have to pay stamp duty where I am not rich, I don't have a rental income, I just wanted to play fair with my ex. I still pay my half of the mortgage and appreciate that in the long term I will have an asset, but it's grating that once married, my wife will have to pay stamp duty and when my ex moved, I will have to pay capital gains. Getting taxed to goodness because I still get on well with my ex seems wrong.

[@dr87472]

Nunez is so good for us his first goal for the canaries was the free kick beauty against hull, he is an international for Chile and is a promising player💚💛

[@colonelflashman972]

Great show many thanks for sharing, where do we find the link to Paul Wood's company?

[@aceofspades5786]

probate flips, please expand. very interesting podcast

[@PaulWood-STAMPDUTY]

If you buy a property from Probate then in some cases SDLT may be reduced or exempt. CAnt expand on here to many scenarios but we can help on individual cases.

[@raheelsamad3498]

Salam, i was interested in your podcast with paul wood who i assume is a tax adviser specialising in property. how can i get in touch with him please. thank you

[@evh892]

Good afternoon Saj, I found your youtube channel today as I am doing some digging on how to start a property development. Basically I need to find a bridging loan, or investors who can help me to buy the first property in a bad condition and to renovate it as I have very good network of east European construction traders with whom I did a project for somebody back in 2019. Please if you can help me with some advice on how to find investors or any other strategy which can proof to be a success for a start up. Thank you for reading my message. Your time and help is appreciated. Kind regards, Evshan

[@Ericohanmu]

I bought an investment property last December it’s a probate property no running water, kitchen, most floor boards are missing. No heating and all copper pipes were ripped out of the property. Holes in the ceilings which makes it very dangerous. I paid 8k plus on SDLT Can you recommend good property tax adviser who can help look at it pls. My solicitor didn’t have any clue about not paying tax for uninhabitable property. Thanks

[@charliedrake247]

Muslims don’t pay stamp duty tax but we do .

[@opentrail]

So the HMRC calculator is not fit for purpose in terms of applying some of the exemptions. How do they get away with this?

[@PaulWood-STAMPDUTY]

The calculator is a mere guide and in fact HMRC are not allowed to give tax advice are they? You need to fully understand all the tax rules allowances and exemptions to get the right rate...Who knows which clients need advice?

[@Citizen-of-theworld]

Never trust HMRC to tell you your tax liability. They have no incentive in you paying the right tax, only that you pay the maximum tax they can justify. Proper advice from a CTA qualified adviser is invaluable if you have anything less than a plain vanilla situation.

[@twig3288]

Thank goodness that successive governments have pledged to simplify tax 😐

[@outere2044]

I am purchasing a property failed at survey on a btl mortgage deemed up mortgage able not in a let able habitable condition. I will now proceed cash . Am i stamp duty exempted .? Liam

[@FiscalWoofer]

I purchased a property that no way could you live in, no council tax to pay but, stamp duty 100% payable.

[@davidc4408]

What happens if you set up business in Dubai and obtained Dubai citizenship? No tax on stamp duty in UK?

[@PaulWood-STAMPDUTY]

No matter where in the world you like if you buy a UK property you pay Stamp Duty. If you do not live in the UK for more than 183 days then you will also pay the additional 2% on the price.

[@davidc4408]

@@PaulWood-STAMPDUTY good to know. REITs will probably be easiest. Liquid and no headache

[@mattleelidbetter]

Thanks guys, my business partner partner and I are buying a property to split into 2, we plan to sale after completion can this be a relief

[@PaulWood-STAMPDUTY]

This depends who you buying off, what state its in, who is buying and when you intend to sell it. Cant answer based on the information provided.

[@CalumKemptonMusic]

For a first time buyer, this will not affect me will it?

[@outere2044]

U will pay a small amount depending on purchase prices . Different ball game for investors

[@dess1553]

As a first time buyer you are exempt for SDLT ! So don’t worry 😉

[@PaulWood-STAMPDUTY]

First time buyers have a relief available but you may still pay a duty , it does depend on the price you pay. FTB only applies if BOTH parties have never had an interest in a property. If you inherit or are gifted then you may not qualify

[@murat4189]

Can you share Paul‘s contact info please

[@kryptoniteee]

What you wanna ask

[@shanejohnson606]

Anyone need a stamp duty refund i can help

[@DrAAAli]

Absolutely incredible episode. I am all over "stampcheck" right now. Kind regards

[@TheSajHussain]

Get Help With Your Stamp Duty Land Tax www.sajhussain.com/sdlt

[@paulshinh4334]

Paul's contact no and www site are not operating!! We have a sdlt-relief-for-multiple-dwellings query from past to readdress for a few hmos, if not Paul Wood can you suggest another tax consultant thx

[@TheSajHussain]

Get Help With Your Stamp Duty Land Tax www.sajhussain.com/sdlt

[@paulshinh4334]

Thx