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Joint tenancy
chardy100
Posts: 4 Newbie
Hi
Hope this is posted in the right forum.
I own a house which I share with my partner of 20 years and would like to make her a joint tenant, there is no mortgage involved. I've researched all the procedure and necessary forms etc but there is one thing I can't find a definitive answer to:
Would there be any tax implications in gifting my partner half of my house, (the property market value is under £100k)? I don't want to do this if either of us is hit with a Capital Gains Tax bill
Regards
Colin
Hope this is posted in the right forum.
I own a house which I share with my partner of 20 years and would like to make her a joint tenant, there is no mortgage involved. I've researched all the procedure and necessary forms etc but there is one thing I can't find a definitive answer to:
Would there be any tax implications in gifting my partner half of my house, (the property market value is under £100k)? I don't want to do this if either of us is hit with a Capital Gains Tax bill
Regards
Colin
0
Comments
-
If this property is your primary residence and has always been your primary residence then it is exempt from CGT.0
-
Hi, thanks for the prompt reply.
Yes I've lived here for 30 years and my partner for nearly 20.
My main concern was that she would not be taxed on the gift of half a house.
Colin0
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