- Home
-
Tax News
- Budgets and Autumn Statements
- Income Tax
- Business Tax
- PAYE and Payroll Taxes, National Insurance, NICs
- Company Taxation
- Savings & Investments, Pensions & Retirement
- Capital Gains Tax, CGT
- Property Taxation
- Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
- Tax Investigations & Enquiries
- VAT & Excise Duties
- Stamp Duty, Stamp Duty Land Tax, SDLT
- International Tax
- HMRC Administration, Practice and Methods
- Professionals in Practice & Industry
- General
- TaxationWeb
-
Tax Articles
- Budgets and Autumn Statements
- Income Tax
- Business Tax
- PAYE and Payroll Taxes, National Insurance, NICs
- Company Taxation
- Savings and Investments, Pensions and Retirement
- Capital Gains Tax, CGT
- Property Taxation
- Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
- Tax Investigations & Enquiries
- VAT & Excise Duties
- Stamp Duty, Stamp Duty Land Tax, SDLT
- International Tax
- HMRC Administration, Practice & Methods
- Professionals in Practice & Industry
- General
- Tax Tips
-
Tax Forum
- Income Tax
- Business Tax
- PAYE and Payroll Taxes, National Insurance, NICs
- Company Taxation
- Savings & Investments, Pensions & Retirement
- Capital Gains Tax, CGT
- Property Taxation
- Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
- Tax Investigations and Enquiries
- VAT & Excise Duties
- Stamp Duty, Stamp Duty Land Tax, SDLT
- International Tax
- HMRC Administration, Practices & Methods
- Professionals in Practice & Industry
- General
- Tax Jobs
- Get in Touch
Where Taxpayers and Advisers Meet
Adding daughter to my property
Will I have to pay tax, if I add my daughter to my property. It is currently in my name only and she lives with me?
Re: Adding daughter to my property
There's a possibility of a capital gain, but if you have lived there throughout the period of ownership then principal private residence relief will fully mitigate this.
However, if the property is mortgaged then (assuming ownership will be 50/50) half the mortgage will be consideration for SDLT purposes, and so stamp duty may be payable.
However, if the property is mortgaged then (assuming ownership will be 50/50) half the mortgage will be consideration for SDLT purposes, and so stamp duty may be payable.
Re: Adding daughter to my property
The issue is whether you wish to add your daughter's name to the legal title and/or give her a beneficial interest.
Retaining title in your own name but giving your daughter a beneficial interest (eg 50%) would mean no CGT assuming you have lived in the property since buying it and no SDLT assuming daughter does not agree to take on any part of the mortgage (or if she takes on no more than £125k).
Retaining title in your own name but giving your daughter a beneficial interest (eg 50%) would mean no CGT assuming you have lived in the property since buying it and no SDLT assuming daughter does not agree to take on any part of the mortgage (or if she takes on no more than £125k).
