Bank of Mum and Dad liable for CGT?

Pennywise

Accidental.Landlord wrote: »

Thanks, everybody. It's been quite a rollcoaster, reading your various replies. The most significant thing I've taken away from this, is that I need to seek professional help.

Take heed of what 00ec25 said. Go and see a qualified tax specialist (not a cheap accountant advertising in Zit magazine!). If there is evidence of your intentions right from the first thought of helping her buy the house, and evidence that you didn't benefit from it, then there is a chance you could avoid the CGT. Tax is always about the detail and property tax should never be left to DIY, what your friend down the pub says or what you've read in the Daily Mail money pages. You also need proper advice on the stamp duty and any future help you give to her BEFORE you do anything. The figures and consequences for fouling up are too great to muddle through with half baked ideas.

Keep_pedalling

BoGoF wrote: »

Surely she is giving you the initial £25k deposit back?

If not, why not?

Because it was a gift not a loan.