Late Submission of Form 17 results in large tax bill - help.

Seekingunderstanding

Posted as an image

anselld

Given the you say your wife inherited from her mother, why/how did you end up owning 1%?  If it had remained in her sole ownership your tax objectives would have been achieved by default.

sheramber

anselld said:

Given the you say your wife inherited from her mother, why/how did you end up owning 1%?  If it had remained in her sole ownership your tax objectives would have been achieved by default.

requested that they back date it to Feb 2019 in-accordance with the Land Registry documents.

anselld

sheramber said:

anselld said:

Given the you say your wife inherited from her mother, why/how did you end up owning 1%?  If it had remained in her sole ownership your tax objectives would have been achieved by default.

requested that they back date it to Feb 2019 in-accordance with the Land Registry documents.

That doesnt answer my question.  Why was the OP ever on any Land registry documents as owning 1% when he states that his wife inherited the property from her mother?

sheramber

Nothing to stop his wife transferring a share to him after she inherited it.

Cook_County

Someone advised you when the title became 1% and 99%.  Who advised you, why was this done and why were the tax implications ignored? I am thinking that there might be a claim here from you against whoever provided the advice.

Seekingunderstanding

Thanks for this but don't believe that will work as the Solicitor's submitted the Land Registry as requested. Unfortunately I didn't ask for tax advice from them or anyone else.

Seekingunderstanding

anselld said:

Given the you say your wife inherited from her mother, why/how did you end up owning 1%?  If it had remained in her sole ownership your tax objectives would have been achieved by default.

If I recall it was because she couldn't get a mortgage as she had no income.