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Where Taxpayers and Advisers Meet

CGT on property sale

Surrey Lass
Posts:1
Joined:Thu Mar 23, 2017 5:59 pm
CGT on property sale

Postby Surrey Lass » Thu Mar 23, 2017 6:35 pm

I split up with my husband 10 years ago and got a property with my daughter although never legally going for seperation.I gave her half the money and she got a mortgage for the other.The house was registered solely in her name as it was easier with the mortgage.She married and moved out 5 years ago and I gave her the money to pay off the mortgage.So I have now provided​ all the money. I now want to move and sell the property and my daughter is happy for me to do this and regards all proceeds as mine.The house has gone up considerably in value.
I don't want my daughter to have any CGT liability and wanted to know if we set up a deed of trust with myself having 100% beneficial interest if that would do that.I believe that the deed wouldn't cause any liability for Stamp Duty. The proceeds would go into a joint account we have together and then immediately moved into my personal account so she has received no gain whatsoever.She also owns half of her new marital home.Would that procedure save her from CGT liability?
On the sale would I be liable for CGT as it's has been my only home and I've always been registered there for tax and electoral roll.I live in a different county to my husband and he has likewise been registered there in the small value property he bought.I do own some buy to let properties with my husband.
Would be very grateful if anyone could give me an opinion on all or any of this.

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