• Shared Ownership

    By Guest on 01st Mar 2017

    My father would like to add me to ownership of 2 rental properties he owns, they are not mortgaged. Would there be any implications for Stamp Duty and Capital Gains Tax?

  • 1 Answers

    By Guest on 01/03/2017

    There wouldn't be any stamp duty implications unless you gave him any money in return however if you then went on to buy a property you would have to pay the higher rate (3% of the purchase price on top of the standard duty). As for capital gains tax, this would only apply when one of the properties was sold, at which point any money you received from the sale would count towards any CGT liability you had for the year

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