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  • Tax

    Discretionary trusts

    We are thinking of putting a BTL property into a discretionary trust to help pay for our child's university fees.

    1. If we were to do this, is there any stamp duty payable & does this apply if there is no mortgage?

    2. Does the lender need to be told & would they provide consent?

    3. Best done mortgage free?

    4. We would like to add our other son next year, however, can the income roll up for him in the trust now or best to do when he is 18?

    5. If we set this up and later wish to gift our main residence to the children, will the stamp duty surcharge apply or will this be seen as their first property, regardless of the trust?

    Thank you

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    This is fraught with practical, legal, mortgage, and tax problems.  There are very limited circumstances where it would either be a good idea or work the way you intend.  

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    Tony Gimple

    Founding Director

    Less Tax For Landlords