This message is for MUFFIN
This message is for MUFFIN. There is a cost to unwinding the Wincham structure, but there is a way to minimise them.
If you were simply to transfer the property from the name of the English company to someone else (even shareholders) you will have to pay transfer taxes at the rate which applies to any other transfer in the autonomous community where the property is located.
In Andalucia (where our property was located), you can reduce the rate of the transfer taxes by first appointing an English liquidator to the English company. The liquidator can transfer the property from the company to shareholders (in our case a married couple, and the property had no mortgage on it and no creditors) as a distribution of assets to those entitled to them in a liquidation (which will always be the shareholders if there is no mortgage and no other unpaid creditors).
As it happens, we ended up selling our property to a third party and so we just dissolved the Wincham company, but our lawyer (based in Malaga) has done what I describe above for others and it sounds perfectly logical to me. But be aware that you will still be on the hook for whatever tax must be paid for a shareholder to accept the transfer from the liquidator in the autonomous community where the property is located and for liquidator and legal fees.
Hope this helps.
Frankly, it amazes me that these charlatans are still in business. I see they have changed their name. Absolute swindlers.








