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Deed of Declaration of Trust - original with solicitor no longer practising


I hope that this is the right forum as it relates to capital gains tax and how I prove that I gave money for an interest in a property purchase.
I gave my parents a sum of money to purchase their flat, and we arranged a Deed of Declaration of Trust. My parents have a copy of their signed part (as does their solicitor), and the original with my signature went back to my solicitor. However I did not receive a copy of my signed part, and my solicitors are no longer practising and so I have no idea where the original is now or even if it still exists.
My interest was registered against the property, and the entry also refers to the solicitors. I also have all of the correspondence with my solicitor.
I have no concerns about getting the money back, whether it be through them moving (which they have no plans to do) or through an eventual executor sale (hopefully in many years time).
My question is
whether the interest registered on the property plus the copy of the Deed
signed by my parents would be sufficient proof for HMRC to show that I would
only owe capital gains on any amount over the amount lent to them.
If I can not track
down the original from anyone who bought the business I suppose we could
revalidate the agreement via another solicitor.
Any advise
gratefully received!
Comments
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[Deleted User] said:You'll be fine with the evidence of the facts that you have.
I have no idea what the true facts are though. Did you give the sum of money or lend the sum of money? You mentioned both. But in either case, you wouldn't have a capital gain. More likely from the capital gains tax bit of the question, did you buy the flat with your parents being the legal owner and you being the beneficial owner? Or was it something else?
From a IHT perspective, did your parents fund you to fund the acquisition? If so, it makes things more interesting.
You can contact the SRA to find where the original documents are:
I provided a sum of money towards their purchase which I funded myself through a further loan on my own property.
In return the deed states that I will receive the equivalent % of the gross sale price (together with a sum representing interest on the original payment).
The value hasn't changed much, but if were to receive say £10k capital more than I contributed then I would expect to pay Capital Gains on the £10k.
The interest part I would also expect to pay interest on.
Thank you for the link to the SRA, I will certainly pursue that.0 -
The interest part I would also expect to pay interest on.0
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