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Where Taxpayers and Advisers Meet

Gifting rental property to grown up children

Another John
Posts:31
Joined:Wed Aug 06, 2008 3:16 pm
Gifting rental property to grown up children

Postby Another John » Thu Jan 19, 2017 2:49 pm

I would like to gift my grown up children a share of my mixed-use rental properties but I'd need to know first what the tax implications would be for SDLT, CGT and IHT. I've had a quick look at the guidance notes on SDLT but my understanding was that it wouldn't apply in a transfer of no monetary value. Rather than look-up the guidance on CGT and IHT as well and not be able to properly understand it, as usual, I would be very grateful for any help on this please. Thank you.

pawncob
Posts:5099
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: Gifting rental property to grown up children

Postby pawncob » Thu Jan 19, 2017 5:53 pm

Did you do a search? it's been covered many times.
With a pinch of salt take what I say, but don't exceed your RDA

bd6759
Posts:4270
Joined:Sat Feb 01, 2014 3:26 pm

Re: Gifting rental property to grown up children

Postby bd6759 » Thu Jan 19, 2017 6:07 pm

SDLT based on consideration received
CGT & IHT based on market value

Another John
Posts:31
Joined:Wed Aug 06, 2008 3:16 pm

Re: Gifting rental property to grown up children

Postby Another John » Fri Jan 20, 2017 9:42 am

Thank you both.


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