• Land Registry And Joint Ownership With Brothers - Inheritance Tax Implications

    By Guest on 03rd Apr 2020

    Hello. I want to add my two brothers to the land register for my home in England. If I do so and then I die, will the property still be subjected to inheritance tax?

  • 1 Answers

    By NotaryExpress on 04/04/2020

    The way to avoid inheritance tax would be to divest yourself of the property completely and then survive at least 7 years, i.e. gift the property outright to your brothers (so you're not longer on the title) and make sure you no longer live there or have any benefit from the property. After 7 years, no inheritance tax to pay (it's a sliding scale if you die during those 7 years).

    Check with your accountant about Capital Gains Tax implications on a gift of the property though. One way or another, HMRC is out to get you...

    www.notaryexpress.co.uk

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