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Where Taxpayers and Advisers Meet

Holiday home abroad - who’s name is it best to go in?

Sjp1
Posts:2
Joined:Mon Oct 25, 2021 7:19 am
Holiday home abroad - who’s name is it best to go in?

Postby Sjp1 » Mon Oct 25, 2021 7:46 am

I’m currently buying a holiday home in Spain. It will not be let out.

I have rental properties in the uK and pay taxes accordingly via Self Assessment. No other income.

I have 3 children. Who’s name should I put the house into and would there be any tax advantages/disadvantages whilst I own it when it’s sold in the future?

pawncob
Posts:5090
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: Holiday home abroad - who’s name is it best to go in?

Postby pawncob » Tue Oct 26, 2021 4:10 pm

Your favourite child.?
All three? How old are they?
Are you going to use it yourself?
It's a lifetime transfer for IHT.
No CGT implications if you don't own it.
With a pinch of salt take what I say, but don't exceed your RDA


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