SDLT forms to HMRC for gifting house

makemineapint

Hi all, We are considering helping our son with a gift of our residential home. I understand that stamp duty is exempt as there is no consideration for the gift of the home. However do we still need to notify HMRC via SDLT forms? 
I have searched online for answers but can't find the specific answer. Hoping someone here can help.
Thanks 

user1977

You don’t need to deal with SDLT at all, that would be for your son (or normally, his solicitor). If a genuine gift then there’s nothing needing submitted though.

p00hsticks

I can't answer your question I'm afraid but there are a lot of other things to bear in mind when making such a gift that hopefully you will be aware of and have considered. .

Who is living in the home at present and who will be after the transaction ?
What reasons are prompting you to make this gift ?

Bookworm105

easy enough to look this up yourself: you are NOT required to submit an SDLT return where there is no chargeable consideration 

Stamp Duty Land Tax: transactions that don't need a return - GOV.UK

makemineapint

Thank you all very much.  I thought that might be the case ( NO SDLT no Form). Just needed reassurance. 
P00hsticks, thank you for your input. Yes I have considered other aspects of tax , main residence to main residence. 
Bookworm105 thank you for the link. Very grateful to you.
User1977 thanks. 

Keep_pedalling

How does gifting your home help your son, unless he evicts you and sells it for cash? Frankly this would be a very foolish thing to do. Apart from giving away your long term security, if your son is not already a home owner then this will cost him his first time buyer status and he will pay additional tax on only home he purchases for himself. Longer term there could be a CGT liability that will impact him unless he lives with you.

If this is really a cunning plan to avoid care costs or IHT you need to check out deliberate deprivation of assets and gift with reservation of benefit.

Just remembered your other thread and your rather unique circumstances. 

SiliconChip

makemineapint said:

P00hsticks, thank you for your input. Yes I have considered other aspects of tax , main residence to main residence. 

The thing is, the questions that were posed were not, I suspect, really about tax but about other aspects of gifting a main property, with the key aspect being deprivation of assets, is that something that has been fully considered?

p00hsticks

SiliconChip said:

makemineapint said:

P00hsticks, thank you for your input. Yes I have considered other aspects of tax , main residence to main residence. 

The thing is, the questions that were posed were not, I suspect, really about tax but about other aspects of gifting a main property, with the key aspect being deprivation of assets, is that something that has been fully considered?

Partly that , but also the fact that it wouldn't remove the property from the estate for IHT purposes, that it could be detrimental to the son if they don't already own their own property (they'll lose their first time buyer status if they want to move on) and /or don't live in the property being gifted (as they'll be building up a CGT liability) , and detrimental to the parents (risk of eviction) if their offspring get into debt or get divorced etc ...

[ Edit - have just read the OP's previous thread and understand more about the circumstances now  ]
Gifting house, CGT and IHT — MoneySavingExpert Forum