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Inheritance Tax

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pinkjudy45 | 18:13 Thu 03rd Mar 2011 | Law
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I have a house in my old married name and would like to leave this to my only son, is there any advantage to putting his name on the title deeds now and would he still have to pay inheritance tax when I passed away ( this house is mortgage free).
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Avatar Image Buenchico
Just make sure that you fall under any buses for the next 7 years!
http://www.hmrc.gov.u...-home-to-children.htm

Chris
18:47 Thu 03rd Mar 2011
Avatar Image PipinHull
Or maybe don't!
20:18 Thu 03rd Mar 2011
Avatar Image Buenchico
Oops!

Well-spotted, PipinHull!!!

Sorry about that, Judy. I wasn't actually wishing you dead ;-)
20:19 Thu 03rd Mar 2011
Avatar Image LDC134
I could be completely wrong, I am not a financial expert, but something rings a bell that your son could pay more tax if you did this ? It might be capital gains tax ?
14:05 Fri 04th Mar 2011
Avatar Image pinkjudy45
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Thanks all of you for the answers I will try the web site that Buenchico suggested and I will try not to get run over by a bus, thanks again.
18:05 Fri 04th Mar 2011

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