Partial transfer of BTL

Partial transfer of BTL

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Client holds btl with son on a 10/90 basis.. Son 10,dad 90.(it has never been their PPR). House purchased for say 100k,now worth 150k. There's therefore a 45k gain on dad's share ignoring all cost. Sensible tax planning is to transfer say 25 percent to son... Causing a chargeable gain of £11,250 (slightly above AEA). How is this done in practice in terms of ascertaining the value for CGT purposes and landregistry? How about reporting to HMRC? Can it be done via a declaration of trust to note new split so 35 son and 65 dad?

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paddle steamer
By DJKL
23rd Jan 2017 22:43

Actually £45k pregnant gain to dad 9/10 x £50

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Replying to DJKL:
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By taxiboy
25th Jan 2017 21:18

Good spot, you are correct.

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