Hello,
My mum bought the house that we live in as a 2nd property 8 years ago. My mother does not live with us. It is now worth approx £80K (freehold).
She is now 73 and wants to transfer/ let us buy the house from her for a low price with the minimum stamp duty/ capital gains tax/ IHT. We are in no rush to 'own' the house - is a trust the best way to go?
What sort of costs are we looking at to set up a trust - will there be stamp duty etc due?
Should we make sure we do this in this financial tax year?
Thanks
Sarah
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