SDLT question on gifted holiday cottage - impact on future purchase

davidmcn

p00hsticks said:

davidmcn said:

brett19852010 said:

Purchase London house first and second home stamp duty on cottage will be low.

It'll be zero if it's a gift, no matter when they do it.

If it's never been a primary residence of the parents though, won't they potentially have CGT to pay at the point they gift it ? I think in the circumstances if I was the recipent I'd probably feel some moral obligation to at least contribute to that.

Good point. Yes, potentially there's CGT due (if they don't leave it until the point when Inheritance Tax is due instead). Though given the OP calls it their "grandparents' cottage" perhaps it's a relatively recent inheritance and not much of a capital gain to speak of.