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Potentially Exempt Transfer

Mrs_pbradley936 · 2014-09-21 07:48:37

I inherited a house in 1999 we have never lived in it and it has always been rented out via an agent. The house is held under a Tenants in Common basis by my husband and I and we are considering transferring 60 or 70 per cent to our son. He wants to live there. Any pitfalls to doing this? We are in our 60s. Or is there a…

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RickyC_IFSWP Posts: 203 Forumite

24 September 2014 at 11:25AM

If you are looking to gift away the property, the immediate concern, as booksurr raised, is capital gains tax.

You mentioned about limiting Inheritance Tax... what is the value of your estate at the moment?

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Potentially Exempt Transfer

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