• Transfer Deeds To Parent

    By Guest on 03rd Jun 2014

    Hi, are there any tax implications in transferring the deeds of my house to my mother? There is no mortgage on the property? Kindest Regards

  • 1 Answers

    By Guest on 26/07/2014

    Assuming you gift the property then the implications as far as I know (but I don't profess to be an expert) are that if your mother sells the property but doesn't live in it and owns another home she may have to pay capital gains tax and when she dies and the property is sold the proceeds will be taken into account when calculating inheritance tax. Also, if you die within 7 years your mother may have to pay inheritance tax as though you had left it to her I. Your will.

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