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Where Taxpayers and Advisers Meet

Transfers of Ownership and CGT

econscar
Posts: 3
Joined: Sun Mar 23, 2014 9:39 pm

Transfers of Ownership and CGT

Postby econscar » Sat Apr 13, 2019 11:59 am

In May last year I used a Transfer of Ownership procedure to switch ownership of a residential property from my daughter to myself. My daughter did not reside at the property but let it out. I was directed towards this option on the advice of a conveyancing solicitor on the premise that it would not generate a CGT liability. Stumbling across a recent piece in the Press I'm now wondering whether this was incorrect advice. Was it?

bd6759
Posts: 3069
Joined: Sat Feb 01, 2014 3:26 pm

Re: Transfers of Ownership and CGT

Postby bd6759 » Sun Apr 14, 2019 10:44 am

Yes.

AGoodman
Posts: 770
Joined: Fri May 16, 2014 3:47 pm

Re: Transfers of Ownership and CGT

Postby AGoodman » Mon Apr 15, 2019 10:52 am

Why did you transfer your daughter's property to yourself?

econscar
Posts: 3
Joined: Sun Mar 23, 2014 9:39 pm

Re: Transfers of Ownership and CGT

Postby econscar » Mon Apr 15, 2019 12:38 pm

Health issues, so I could take over as landlord of the property.


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