Gifting Property Tax Implications

Gifting property to children or family members is not only extremely generous but it can help reduce inheritance tax. Let me explain you how it works and how to avoid certain pitfalls.

It can reduce inheritance tax for your loved ones when you die, and it could cut your tax bill while you’re alive too. We explain the complicated tax rules around gifting property so you can decide if it works for you.

• Can I gift my property to my children or a family member?

• Should I transfer my home to my children?

• How to avoid capital gains tax on property?

• Whether you have to pay stamp duty on gifted property?

• What are some of the tax implications of gifting property in different scenarios?

Can I gift my property to my children or a family member?

Yes, you can gift a property to a loved one, whether that’s a partner, a child or someone else. But you need to be aware of the complicated tax rules around this.

Whether you incur a tax bill will largely depend on:

• Who you have gifted the property to

• Whether the property is your main home

• Gifts are usually exempt from inheritance tax (IHT) if:

• They are below the nil rate band of £325,000

• The giver survives for more than seven years

If you need further information , please call

020 8514 2678 or 07809 399546