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Where Taxpayers and Advisers Meet

Property ownership

Greenshaw1981
Posts:1
Joined:Mon May 22, 2017 7:42 pm
Property ownership

Postby Greenshaw1981 » Mon May 22, 2017 7:46 pm

My son and daughter are considering buying a property together. My daughter would live there has her sole residence. My son is in the military so this would be an investment for him. If they sold in 3 year's would CGT apply to either or both of them?

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

Re: Property ownership

Postby pawncob » Tue May 23, 2017 12:28 pm

He could claim it as his PPR if he's posted abroad. No gain on her as it is her PPR.
https://www.gov.uk/hmrc-internal-manual ... al/cg64555
With a pinch of salt take what I say, but don't exceed your RDA

AGoodman
Posts:1738
Joined:Fri May 16, 2014 3:47 pm

Re: Property ownership

Postby AGoodman » Tue May 30, 2017 6:29 pm

But note that he would only receive PPR if, while posted elsewhere, he "intends in due course to occupy the dwelling-house or part of a dwelling-house as his only or main residence".

He doesn't actually have to occupy it before it is sold but there must be some intent there.


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