Avoiding SDLT

Escaping stamp duty on enveloped propertiesHouse buyers have been told they could save millions in stamp duty on high-end “enveloped” properties if they purchase the offshore company that owns the house. It comes after Aston Chase, agents for an £8.95m house off Regent’s Park in London, said purchasers can save £985,750 in stamp duty by buying a Guernsey-based corporate entity whose sole asset is the property. They will, however, be liable for the annual tax on enveloped dwellings (Ated), which the agency says will amount to £54,450 a year.