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Where Taxpayers and Advisers Meet

PET Help

Posts: 51
Joined: Sun Jun 18, 2017 4:00 pm

PET Help

Postby Dev_1 » Thu Dec 12, 2019 2:43 pm

Good afternoon,

I apologise for asking this question as i believe i may have asked it a few years back but can't seem to find any communication relating to it.

Essentially the family home which was previously in my mothers sole name, a transfer of equity was completed and i was added to the title register and we became tenants in common of equal shares.

This was completed as a PET back in 2010, in relation to the PET we both contributed equally to the running of the household bills and running costs.

Should any forms have been completed to document the PET when it was first made?.

We have the documents from the solicitors who dealt with the transfer of equity and the title also reflect the change to the ownership.

I am just wondering what paperwork should have been completed if any and are there any forms which we should have completed to inform HMRC of this PET at the time or now that the 7 years have passed?.

Thank you for reading and appreciate any replies.

kind regards

Posts: 225
Joined: Mon Aug 12, 2019 8:41 am
Location: Sandhurst, Berkshire

Re: PET Help

Postby jerome.lane » Fri Dec 13, 2019 10:08 am

I assume you live in the property with your mother and got advice on gifts with reservation of benefit at the time?

If a successful PET, then there is no further documentation needed.
Jerome Lane
Tax Adviser
Telephone: 07943 005902

Posts: 51
Joined: Sun Jun 18, 2017 4:00 pm

Re: PET Help

Postby Dev_1 » Sat Dec 14, 2019 9:20 pm


Thank you for your reply.

Yes we did, thank you for your reply.

Its very much appreciated.

best wishes

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