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TaxRobin
TaxRobin, Tax Consultant
Category: Tax
Satisfied Customers: 15332
Experience:  International tax
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I would like too transfer my half of our London apartment to

Customer Question

I would like too transfer my half of our London apartment to my wife. What tax/penalty would this attract?

Submitted: 2 years ago.
Category: Tax
Expert:  Nicola-mod replied 1 year ago.
Hello,
I am a moderator for this topic.
It looks like this question should be in the Tax category - would you like me to move it for you?
Thank you,
Nicola
Customer: replied 1 year ago.

This is a matter of tax law....your "expert" should have an answer to the simple question: "What tax/penalty would this attract?"

Expert:  Nicola-mod replied 1 year ago.
Hello,
I will change the category for you.
Thank you,
Nicola
Customer: replied 1 year ago.

...and when might I expect an answer?

Expert:  Nicola-mod replied 1 year ago.
Hello,
I'm afraid JustAnswer cannot guarantee a time, however most questions are answered in a timely manner.
Thank you for your patience,
Nicola
Expert:  TaxRobin replied 1 year ago.
Hello,If you and your spouse are living together, any transfer of an asset between you is treated as giving rise to neither a gain nor a loss to the person transferring it. Any amount actually paid is ignored. If the person receiving the asset later disposes of it, he or she will be treated as if they had paid an amount equal to the total of your costs. You would have no tax penalty for the transfer.
Expert:  TaxRobin replied 1 year ago.
If my answer addressed your question please rate below or above (let me know if you have difficulty as I believe the system changed), if you need more information reply below.
Customer: replied 1 year ago.

The answer was excellent...the service was very poor.

The website gives no reliable, achievable way of communicating with customer services AND no phone option that works

I had to threaten to go to Trading Standards before a response emerged.

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