A new investment property is valued at £100000. The vendor accepts £90000 after giving the buyer a gifted deposit of £10000. Is the base price for CGT purposes £90,000? Does the buyer have any liability on the £10000 gifted? Is there any tax risk for the seller (selling at below market value)? Can vendors of none-new houses gift deposits to a buyer?
Richard Hall
22nd Aug 2007
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Gifted Deposits
Gifted Deposits