UK Property Forum Latest Questions

j_lakher
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In the United Kingdom, the liability for inheritance tax (IHT) depends on the overall value of the ...Read more

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Yozana
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My client inquired the applicability of SDLT rebate on their jointly owned properties. Two sisters jointly owned Two properties each. Property A (50% each by both sisters) & Property B(50% each by both sisters). Now they decide, to ...Read more

My client inquired the applicability of SDLT rebate on their jointly owned properties.

Two sisters jointly owned Two properties each. Property A (50% each by both sisters) & Property B(50% each by both sisters). Now they decide, to own each property 100% (Property A, 100% Elder sister ; Property B, 100% younger sister).

Is 3%SDLT rebate available to each sister ? Since each person is no longer owner of an additional property, and now have become single property owners, can they claim back 3% SDLT each paid when purchasing their second property ?

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Yozana
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One of our clients has transferred his and his wife’s share of property to his mother over the span of 3 years now. He and his wife each transferred 10%, 8% and 4% in year 1, 2 and ...Read more

One of our clients has transferred his and his wife’s share of property to his mother over the span of 3 years now.

He and his wife each transferred 10%, 8% and 4% in year 1, 2 and 3 respectively.

From CGT point of view each transfer was just below the annual exemption threshold each year.

From SDLT point of view each transfer was below the minimum consideration of £40K each year.

My question is will it attract any anti avoidance rule for both CGT and SDLT?

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Yozana
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Are the two property transfers made by my client to his fiancée, one in England and another one in Scotland, considered linked transactions?

Are the two property transfers made by my client to his fiancée, one in England and another one in Scotland, considered linked transactions?

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