We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Stamp Duty on Transfer
imi1ahmed
Posts: 4 Newbie
Hi Guys, Quick question to clarify on Stamp duty..
I have a property which has no mortgage. I want to gift this to my nephew. Will he have to pay stamp duty or is there a way to do it where he will not pay stamp duty??
Help appreciated.
Some clarity - Its my only residence - I'm married but we have no kids and nephew lives with me (not legally adopted). I could leave it to the wife but then she would do the transfer to the nephew.
I have a property which has no mortgage. I want to gift this to my nephew. Will he have to pay stamp duty or is there a way to do it where he will not pay stamp duty??
Help appreciated.
Some clarity - Its my only residence - I'm married but we have no kids and nephew lives with me (not legally adopted). I could leave it to the wife but then she would do the transfer to the nephew.
0
Comments
-
Be very careful.
If you're nephew gains title of the house before you or your wife die he can legally evict you and sell.....0 -
In answer to the question though, no, there's no stamp duty payable on gifts.0
-
Your question's been answered - but it a strange question....
How old is the nephew?
Why are you considering this? It is fraught with risk.
A properly drawn up will is a far better idea or is the idea to avoid inheritance tax?
How about joint ownership to give you more security?
Of course without knowing your motivation it's all speculation.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.4K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.5K Work, Benefits & Business
- 601.3K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards