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Where Taxpayers and Advisers Meet

Giving house back

Nicklam
Posts:44
Joined:Sun Jan 19, 2020 1:00 am
Re: Giving house back

Postby Nicklam » Mon Mar 23, 2020 9:42 pm

Yes you did maths. Thanks for the generous reply.

Another side question. If say i gifted him 50% and kept the other part of the 50% for myself. Then say in a years time we sold the house and took our shares of the house in cash and moved on our separate ways.
Would that be ok or would either of us get caught by the grob/poat regime because we took cash from the property?

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

Re: Giving house back

Postby maths » Mon Mar 23, 2020 10:12 pm

It's difficult to keep responding to bits of questions.

One issue not discussed is whether father is likely to end up in a care home and whether there is any possibility of protecting the home from care home fees;
the value of father's estate and the property; has he a will and who benefits; your own circumstances; etc etc

Nicklam
Posts:44
Joined:Sun Jan 19, 2020 1:00 am

Re: Giving house back

Postby Nicklam » Wed Mar 25, 2020 7:33 pm

How much do hmrc check the probate forms. Can they find out a gift was made in the first place?


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