returning house registration to original owner

clivew · Postby **clivew** » Fri Sep 03, 2004 1:12 pm

The house I live in was bought and registered five years ago.When she married she transferred the registration three years ago to me.She was concerned that thier would be tax implications if she was the registered owner and didnt live in the property.
If I now return the registration to her to avoid inheritance tax am I violating any tax law regarding gifts etc?

clivew · Postby **clivew** » Fri Sep 03, 2004 1:15 pm

I should have added the house was bought in my daughters name.

robertmlaws · Postby **robertmlaws** » Mon Sep 06, 2004 4:44 am

Sorry not to answer but to add a question:

if (1) you gave her the money so she could buy the house in the first place (2) she later gave the house to you and (3) you now give the house back to her, and (1) and (3) both occur within 7 years of your death: are you not liable for IHT on (1) and (3)?

that is, by passing the gift back and forth do you multiply up your IHT liability in the case that you die within severn years of the first purchase?

Robert

Robert