We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Want to become a Forum Ambassador? Visit the Community Noticeboard for details on how to apply
My tax implications
kjgillick
Posts: 1 Newbie
I own my home out right ,value is £900,000.my 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?
0
Comments
-
No. He's buying something from you so no tax payable.
You're boyfriend will likely need to pay Stamp Duty tax though0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.9K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 246.9K Work, Benefits & Business
- 603.5K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards