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Where Taxpayers and Advisers Meet

Joint tenancy an rnrb

vik2001
Posts: 61
Joined: Sat Nov 17, 2012 2:24 am

Re: Joint tenancy an rnrb

Postby vik2001 » Fri Jan 17, 2020 9:59 pm

Section 102B(4): Sharing Arrangements
There is no GWR where
(a) there is a gift of a share in land and:
(b) the donor and the donee both occupy the land; and
(c) the donor does not receive any benefit, other than a negligible one, which is provided by or at the expense of the donee for some reason connected with the gift.



So in regards to point a) above joint tenants is also a gift of share in land? In this sense they not seen as owning the whole property 100% which is then not seen as a share

Sorry if i sound silly but this is the point im trying to understand.
Thanks

vik2001
Posts: 61
Joined: Sat Nov 17, 2012 2:24 am

Re: Joint tenancy an rnrb

Postby vik2001 » Sat Jan 18, 2020 8:47 am

Ok to clarify the matter, in regards to FA86 /S102B:

undivided shares of property will not be subject to the ‘gift with reservation of benefit’ (GWRB) rules provided the donor and donee both occupy the property. The donor must not receive any benefit from occupation other than a negligible one, which in itself must be paid for by the donor.

So to avoid GWRB does it need to be held as tenants in common as so undivided shares of property will not be subject to the ‘gift with reservation of benefit’
So holding as joint tenants may invalidate GWRB compared to tenants in common.?


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