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Where Taxpayers and Advisers Meet

Gifting Part of Property

Penrose
Posts: 1
Joined: Fri Feb 14, 2020 1:22 pm

Gifting Part of Property

Postby Penrose » Fri Feb 14, 2020 1:58 pm

I telephoned the HMRC Inheritance Tax Helpline to ask for clarification regarding their website info on gifting part of a property to a donee that remains living in the house with the doner. My questions were (1) is 'part of property' quantifiable e.g. is there a minimum or maximum percentage that can be gifted and (2) does the donee have to be a family member or can the gift be given to a friend/unmarried partner?

I was told they cannot enlarge on the information given on the HMRC website even though I was asking for clarification on their words not for personal advice.

Can anyone answer my two questions above please? Thank you in advance.

pawncob
Posts: 4444
Joined: Wed Aug 06, 2008 4:06 pm
Location: West Sussex

Re: Gifting Part of Property

Postby pawncob » Fri Feb 14, 2020 7:35 pm

It can be any amount as long as it's defined properly, and it can be gifted to anyone.
With a pinch of salt take what I say, but don't exceed your RDA


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