Transferring rented property to tenant/daughter

Brenny

antrobus wrote: »

Are there any other considerations?

No, it would be a straight transfer of the unmortgaged property (once that has been paid)

Brenny

00ec25 wrote: »

to be honest I don't know how you would set up retrospective evidence. You need (paid) professional advice on this, the point being that if daughter can demonstrate a beneficial ownership interest in the property then part of the gain is down to her rather than you, Furthermore as she is living there as her main home then her share would be CGT exempt leaving you facing a smaller share of the gain and so less CGT
SDLT is not payable since you are not receiving any consideration from your daughter in return for giving her the property. Its your own money you are using, It is semantics to say it is "her" rent money, it is not, it is your income on which you (should) have paid income tax for letting a rented property - the fact it was let to your daughter is irrelevant in that context

Thank you. This is looking a bit more optimistic that it is not all pay out.....

greenface

Brenny wrote: »

I'm not sure why it will get tasty. How she pays the rent is her business. I would just like some advice as per my post.

:-)

Your right and thats why im asking. As per your post . Is she claiming Housing benefit to help with the rent on a house she part owns/ helped to buy . If so then it is her business Oh and my businesses helping to pay for it .