This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

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:4879
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


Return to “Property Taxation”