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Where Taxpayers and Advisers Meet

Declaration to HMRC when daughter added to deeds.

ollie
Posts:17
Joined:Wed Aug 06, 2008 3:31 pm
Declaration to HMRC when daughter added to deeds.

Postby ollie » Wed Mar 23, 2022 11:04 pm

Hi. Cannot find the answer to what should be a straightforward question (!) on HMRC website. My daughter has been added to the deeds of a property. Land registry informed and deed of trust completed. There is a small CGT liability. Does HMRC need to be informed of change of ownership? Thanks.

bd6759
Posts:4262
Joined:Sat Feb 01, 2014 3:26 pm

Re: Declaration to HMRC when daughter added to deeds.

Postby bd6759 » Thu Mar 24, 2022 12:35 am

HMRC need to be told about the disposal and the CG.

maths
Posts:8507
Joined:Wed Aug 06, 2008 3:25 pm

Re: Declaration to HMRC when daughter added to deeds.

Postby maths » Thu Mar 24, 2022 1:03 am

Presumably the daughter has acquired a beneficial interest in the property as well as being added to the legal title at Land Registry ?

What % of the beneficial interest was transferred to her?

What have you estimated your CGT charge to be?

What date was the transfer effected?

ollie
Posts:17
Joined:Wed Aug 06, 2008 3:31 pm

Re: Declaration to HMRC when daughter added to deeds.

Postby ollie » Wed Apr 27, 2022 9:15 pm

Hi Maths,
Thanks for replying and sorry about delay answering: been away.
% beneficial interest is 20%
Estimated CGT is £2,500
Date of transfer and on Deed 10th March 2022


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