Property News · August 22, 2012

Does a property transfer have tax implications?


Q The house my wife and I live in is registered at the Land Registry in both our names. Could you advise me on the costs and tax implications of transferring my half of the house to my wife? CRA If you do the transfer yourself, by filling in forms AP1, TR1 and ID1 from the Land Registry, the only cost involved will be its fee, which ranges from £50 to £920 depending on the value of the property. However, the fee will be cheaper for all transfers completed on or after 22 October 2012, when most Land Registry fees are being reduced by 10%. Continue reading…

Source : theguardian.com
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