Gift Tax on House ?

D

Desparado

Guest
For various financial reasons, I am considering signing over my house to my partner ( we have a child together). Are we liable to tax on this, and would tax be avoided if we were married ?
 
No tax would arise if you were married as there is an exemption for CGT CAT and Stamp duty between spouses.

However as an unmarried couple transfering a house if it is your PPR then no CGT should arise for you, but your partner would be subject to CAT on the net value of the asset recieved. The Net asset value will be determined by the value of the house less an mortgage on it.

Stamp duty will also apply.
 
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