My tax implications

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? 

Comments

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

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