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Where Taxpayers and Advisers Meet

Property transfer to spouse

Barton
Posts:2
Joined:Wed Aug 06, 2008 3:22 pm

Postby Barton » Fri Mar 11, 2005 2:42 am

If my girlfirend buys a property before we're married and paid the stamp duty, do we have to pay Stamp duty once we're married if she wants to transfer half the ownership to me at some point?

Are transactions between spouse's taxable?

Andy Wood
Posts:69
Joined:Wed Aug 06, 2008 3:16 pm

Postby Andy Wood » Fri Mar 11, 2005 8:52 am

Hi Barton,

There's no CGT, IHT or Stamp Duty where transferring property between married couples.

It makes sense (from a tax perspective anyway!)for married couples to own property such taht they make full use of each others annual exemptions and allowances

Hope this helps

Cheers
Andy

Andy Wood
Chartered Tax Adviser
andrewtimothywood@yahoo.co.uk

King_Maker
Posts:6538
Joined:Wed Aug 06, 2008 3:22 pm

Postby King_Maker » Mon Mar 14, 2005 2:30 am

Stamp Duty could be payable if the property is mortgaged.

Warwick

the potato
Posts:1
Joined:Wed Aug 06, 2008 3:28 pm

Postby the potato » Sat Sep 03, 2005 9:25 am

Intersting that no stamp duty applicable in property transfers between married couples. Does this apply in the case of bereavement where a will is made, leaving the propert to the spouse, and does this apply in all UK? Property owned outright


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