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First time buyers and deed of appropriation
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EstateExecutor
Posts: 1 Newbie
Newby here!
Have just been reading post about Deed of Appropriation posted in Feb, about ways to reduce CGT. However, as executor of estate, house is to be inherited by two ‘would be ‘first time buyers. I am thinking first time buyer status re stamp duty and mortgage/ Help to buy Isa benefits outweigh benefits of CGT allowances. Your thoughts / expertise greatly appreciated please!
Have just been reading post about Deed of Appropriation posted in Feb, about ways to reduce CGT. However, as executor of estate, house is to be inherited by two ‘would be ‘first time buyers. I am thinking first time buyer status re stamp duty and mortgage/ Help to buy Isa benefits outweigh benefits of CGT allowances. Your thoughts / expertise greatly appreciated please!
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Comments
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Pay the CGT1
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First time buyer status for stamp duty land tax purposes would be lost if the house is appropriated to them.EstateExecutor said:Newby here!
Have just been reading post about Deed of Appropriation posted in Feb, about ways to reduce CGT. However, as executor of estate, house is to be inherited by two ‘would be ‘first time buyers. I am thinking first time buyer status re stamp duty and mortgage/ Help to buy Isa benefits outweigh benefits of CGT allowances. Your thoughts / expertise greatly appreciated please!1 -
Sell the house & distribute sale proceeds to the 2 beneficiaries. Their 1st time buyer status is preserved.1
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