Sell my business or pay extra stamp duty: the choice facing entrepreneurs – Telegraph.co.uk

Apparently people are charged a stamp duty, if they own a business and live in a flat that is part of the property. The tax is levied when the business owner moves from the flat, to a new home ownership. It can almost double their stamp duty, which makes the equation to buying a house that much more of a hurdle.

There are workarounds though. If the residence connected to the business is less than 40,000, then this fee is waived. As it is, many residences in a business building can be quite modest, so this waiver can help many entrepreneurs.

Read more: Sell my business or pay extra stamp duty: the choice facing entrepreneurs – Telegraph.co.uk

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