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stamp duty and property transfer
theGrinch
Posts: 3,133 Forumite
can I transfer my PPR to my mother without stamp duty implications?
the property is valued at £300k.
the property is valued at £300k.
"enough is a feast"...old Buddist proverb
0
Comments
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Transfering property does attract stamp duty. However one thing I did think about is that if you do this in three phases, transferring a third of the property each time with no contractual connection between them, then each third would be below the stamp duty threshold. I am not 100% about this though.
I would askwhy you want to transfer it upwards on the generation tree, since you risk future inheritance tax or loss in nursing home fees.0 -
thanks for the response. I was thinking of this method and wondered whether it was feasible.
why change title? well the deposit I used was loaned by my mother and now she has just sold her own place and is without her own home; first time in 40 years.
secondly, I want to buy, renovate and sell properties, so there would be savings in capital gains tax."enough is a feast"...old Buddist proverb0
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