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Where Taxpayers and Advisers Meet

Selling for undervalue

Nicklam
Posts:35
Joined:Sun Jan 19, 2020 1:00 am
Selling for undervalue

Postby Nicklam » Fri Apr 16, 2021 2:05 pm

If I was to sell my share of a house to a family member at slightly undervalue, what are the consequences?
Eg share is worth £250k and I sell it to them for £220k. Its 30k undervalue, will it cause any tax issues?
After the sale I will not be living at the property.

pawncob
Posts:4656
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: Selling for undervalue

Postby pawncob » Mon Apr 19, 2021 11:46 am

Assuming it was your PPR, no tax arises even on a sale at undervalue.
With a pinch of salt take what I say, but don't exceed your RDA


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