My tax implications

I own my home out right ,value  is £900, boyfriend  wants to buy a half share of it. I'm a 20% tax payer here in U.K by him giving me £450,000 in one lump sum will that count  as additional  income this year to the tax department .?Will I have to Declare?  I'm aware intrest on it will be taxable.  Any advice? 


  • penners324
    penners324 Forumite Posts: 2,237
    1,000 Posts Fourth Anniversary Name Dropper
    No. He's buying something from you so no tax payable.

    You're boyfriend will likely need to pay Stamp Duty tax though 
Meet your Ambassadors


  • All Categories
  • 338.9K Banking & Borrowing
  • 248.7K Reduce Debt & Boost Income
  • 447.6K Spending & Discounts
  • 230.8K Work, Benefits & Business
  • 600.9K Mortgages, Homes & Bills
  • 171.1K Life & Family
  • 244K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards