Overview Chat Bike Members News Women
Viewing 2 posts - 1 through 2 (of 2 total)
  • Buying a property with relatives – tax implications?
  • Moses
    Full Member

    A very first world problem.

    Mrs M and I are considering buying a property for a relative to live in. We will be paying most of the cost. Our intention is to have the property in all 3 names, as equal owners – are there tax implications for us or the relative?

    Advice from accountants & lawyers is especially welcomed.

    Posted 6 years ago
    ourmaninthenorth
    Full Member

    Instant (non-expert) thoughts:

    Stamp duty surcharge when you buy as it may be classed as a second home
    CGT for you and your wife when you sell as it’s not your main home

    Council tax
    Will the relative pay you rent? If yes, then income tax.

    It’s worth getting some proper advice – my in-laws own my BIL’s house, and are planning to hand over their interest to Mrs North. So we’ll have to consider the same issues.

    Posted 6 years ago
Viewing 2 posts - 1 through 2 (of 2 total)

The topic ‘Buying a property with relatives – tax implications?’ is closed to new replies.

Overview Chat Bike Members News Women