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

Concessionary price

colin66
Posts:37
Joined:Wed Aug 06, 2008 3:07 pm
Concessionary price

Postby colin66 » Thu Aug 11, 2022 2:43 pm

For cgt query ( posting SDLT query on other board).

If I sell my house worth £500k to son ( he owns a property already) at £125K. .. would move in/ out as normal . I assume he would have no cgt when he later sells as ppr, but he decides to rent it out in future what would be the starting value for later cgt calculations

colin66
Posts:37
Joined:Wed Aug 06, 2008 3:07 pm

Re: Concessionary price

Postby colin66 » Thu Aug 11, 2022 2:54 pm

Also the situation if gifted ( no consideration)

bd6759
Posts:4256
Joined:Sat Feb 01, 2014 3:26 pm

Re: Concessionary price

Postby bd6759 » Sat Aug 13, 2022 10:58 am

You will have a deemed disposal at market value. That will also be the deemed acquisition cost.

colin66
Posts:37
Joined:Wed Aug 06, 2008 3:07 pm

Re: Concessionary price

Postby colin66 » Sun Aug 14, 2022 6:10 pm

Thanks , that what I assumed, but great to get confirmation


Return to “Capital Gains Tax, CGT”