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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
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No. He's buying something from you so no tax payable.
You're boyfriend will likely need to pay Stamp Duty tax though0
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