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IHT/CGT/Stamp question
Comments
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MrConfused wrote: »But is purchase price counted as the mortgage amount of value of property at exchange?
Huge difference on what stamp needs to be paid
If your mother is selling you the house at the reduced price of £250K then that is what the SD would be payable on as loovelyjoolz has said."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Further question.
We are taking out a mortgage on the house for £249k, which wll then be sent to my mothers solicitor. (As this was the only way we could take out monies on the house to pay her and have additional monies to do the house up) She will then be looking to give us back £39k of the money to do the house up. Is there any tax, CGT or IHT payable by either party on this at all0
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