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bigduckontax, Accountant
Category: Tax
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Experience:  FCCA FCMA CGMA ACIS
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My Mum immigrated to the UK about 18 years ago from South

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Hi. My Mum immigrated to the UK about 18 years ago from South Africa at the age of 58. Due to her age we could not get a standard 25 year mortgage and so I took the mortgage out in my name (I am her daughter). Mum paid the deposit and each month pays into my bank account the mortgage amount. Although registered in my name this is my Mum's flat. She now wants to sell the flat and we are worried about CGT. Would this be considered a second property as I already have a home, or is there an argument to say otherwise? I'd be grateful for your advice.
Submitted: 10 months ago.
Category: Tax
Expert:  taxadvisor.uk replied 10 months ago.

Hello and welcome to JustAnswer. I am here to help you. I am reviewing your question and will respond to you shortly.

Expert:  taxadvisor.uk replied 10 months ago.

Thank you for your question.

Did you sign any documents/declaration that my mother had 100% financial interest in the property and that it was registered in your name for mortgage purpose only.

Many thanks

Expert:  bigduckontax replied 10 months ago.

Delete post.

bigduckontax, Accountant
Category: Tax
Satisfied Customers: 3829
Experience: FCCA FCMA CGMA ACIS
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Customer: replied 10 months ago.
I don't believe any documents were signed in that regard
Expert:  bigduckontax replied 10 months ago.

There is something wrong here, you have accepted the wrong expert's answer. I did not give one having seen my colleague take up the matter. You should ask Just Answer Administration to unscramble the mess!

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