Stamp duty

[rockrose]

So i have inherited a property with my sister.Who wants to sell.We have agreed on the price for her half 100k.
My partner (we are unmarried/ nor in a civil partnership ) will be putting up 70k and I 30k.I own another property.Which will triggering stamp duty for purchasing an additional property.If I was to gift the money to my partner so they could purchase my sister half as a first time buyer.Which they would be.And i would genuinely like this,so we have an equal share in the property.Would this being seen as good tax planning or something else.

Thanks you for any help

[someone]

So i have inherited a property with my sister.Who wants to sell.We have agreed on the price for her half 100k.
My partner (we are unmarried/ nor in a civil partnership ) will be putting up 70k and I 30k.I own another property.Which will triggering stamp duty for purchasing an additional property.If I was to gift the money to my partner so they could purchase my sister half as a first time buyer.Which they would be.And i would genuinely like this,so we have an equal share in the property.Would this being seen as good tax planning or something else.

Thanks you for any help

If it's a genuine gift with no strings attached then this would be fine. FWIW, if this gift was being used in combination with a mortgage then the bank would probably want a letter explicitly stating that the money was an outright gift. (This is so if there's a default in the future you can't claim to have an interest in any of the equity security of the mortgage).

Most gifts don't have to be explicitly in writing but this is one place where it makes sense even though all you have to do is transfer the money into her bank account.

[rockrose]

Thank you someone for taking the time to reply.It is a massive help.First time on Taxationweb.Reading through the posts in the forums.It is such an eye opener for me.Both the site and the people who reply/help.It is appreciated.