Beneficial interests

[CliveT]

I own some properties with someone else and it has been agreed that we both remain as the legal owners but all the beneficial interests will be due to me. I understand this can be done via a declaration of trust, but i am unsure whether there are any SDLT or CGT implications.
For example, property valued at £300,000, mortgaged for £150,000 and bought 5 years ago.

[someone]

Both SDLT and CGT implications.

You will be assuming liability for the whole mortgage - so 75K consideration which will trigger the 3% rate assuming you own other property.

The someone else (assuming not a spouse) will be making a disposal at market value (so 150k) and CGT will be due on any gain from the base price (with an 11K exempt amount)

There will also be a gift of 75K which has potential IHT implications should the someone else die in 7 years.

[maths]

In what way are the parties's rights and liabilities to change under the proposals?