Stamp duty on conversion of a loan into joint ownership

[Ciceronian]

My wife, a basic rate tax-payer, helped our daughter to purchase a B2L flat two years ago by making her a £50,000 open-ended loan. My daughter put up another £50,000 and took out a £140,000 mortgage in her sole name. Recently however, when my daughter remortgaged, my wife was persuaded to convert the loan into equity and the flat is now registered as jointly owned. Now she is wondering whether she will get hit for CGT, stamp duty or God knows what else - either now, or when we come to downsize ourselves. I know, I know... Any advice most welcome!

[maths]

Perhaps not a good move.

So your wife and daughter are each shown on the legal title?

How is the beneficial interest in the property split between wife and daughter ie in what percentages.

On a future sale wife will be potentially exposed to CGT on any gain attributable to her beneficial interest (as will daughter).

Daughter is subject to CGT charge on disposal of part of her interest to mother.

If wife is shown as a joint mortgagee there may have been an SDLT charge (including the 3% charge) when she acquired her beneficial interest. Solicitor must have advised on this?

[Ciceronian]

Thanks for the response. My wife and daughter own 50% each, as recorded at the Land Registry. Ditto re the mortgage. I think they got in just before the 3% charge was introduced. Solicitor did not mention but I'm assuming that any duty owing would have been wrapped up in the remortgage/transfer transactions - or is my wife likely to get a letter sometime?