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  • Tax

    Gifted share of property

    My son's girlfriend has been gifted a share of her uncles property along with her siblings.

    She is in the process of buying a property with my son, neither have any property and are first time buyers. The uncle has a property owning company and  am not sure but I think she is just gifted a percentage of an individual property. She has no control of this interest so is she already a property owner by default if you see what I mean. When it comes to stamp duty is this a second property?

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    When you say gifted do you mean inherited? And what % interest does she have in the property not a company. She may find the new property will be subject to the additional 3%.

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    Chartered Accountant, Tax Advisor and Mortgage broker

    (and BTL portfolio owner)

    stuart@johnsonsca.com

    02039077022

    If she has shares in a property owning company, then she does not own any property.

    If she has been given part of an actual property (along with her siblings) then she would not be a FTB and would be required to pay the extra 3% stamp duty.


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    Doesn't it also depend if that share is worth £40,000...or is it if the whole of the gifted property is worth £40,000?

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    Ah a bit complicated!

    Her uncle , very much alive had them all sign a deed of trust so he with the 5 of them have an equal share in one of his properties, owned at the land registry by his company. He has decided to sell and each will recive one sixth of the property sale some 48k each. There will be a CGT gain over the 8 years of this arangement of about (a guess) of 16k each. A further complication is that the beneficaries are  3 x UK resident, 2 x EU National and resident and 1 x Australian resident and citizen. I appreciate their individual tax situtions are not of concern.

    Their ownership is therefore of a property, not shares in a property company.

    Comments appreciated!


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    Nick, I think, but please verify from someone qualified, that your son's girlfriend is receiving a beneficial interest in the property, not legal ownership which remains with the company until it is sold.

    If the property is still owned by the company then capital gains should be subject to corporation tax not capital gains tax, but again verify this.

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