• Transfer Of Equity Complicated

    By Guest on 22nd Apr 2016

    my mother purchased my home then 2yrs later transfered it back to me what tax implications are there

  • 1 Answers

    By Guest on 24/04/2016

    This is a conveyancing site and we can only comment with any authority on stamp duty land tax issues. She would have paid duty on the purchase price when she bought it from you but if there was no consideration paid when it was transferred back to you (you didn't pay her any money and there was no mortgage on the property then no duty would have been payable. There may be inheritance tax issues if your mother were to die within 7 years of the transfer back to you. I don't believe capital gains tax is a factor assuming as I say you didn't give your mother any money but I'm no expert on IHT or CGT.

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