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Hi, my name is ***** ***** I am a Chartered Tax Advisor.
I will look into the capital gains point and let you know later today. I am concerned that there may be anti avoidance which may treat the gift as being a sale taking place at market value.
Regarding stamp duty land tax - have you already taken advice about this? Just on the basis of what you have said I am not sure that there is definitely not an SDLT issue. Do you own another residential property?
Kind regards, Peter
I would ask your solicitor whether he or she has considered s108 FA 2003 which refers to linked transactions. For further reading see here https://www.gov.uk/hmrc-internal-manuals/stamp-duty-land-tax-manual/sdltm30100. I should think tis legislation will treat the gifting of the interest in the property and the return gifting of cash will treat them as one and the same transaction. If it does, as this would count as a second property, some SDLT would be payable by your partner.
For capital gains tax purposes there would also be a disposal at market value under s17(a) TCGA 1992 if the transaction was structured as a gift. Usually such transfers would be covered by the spousal CGT exemption however as you are unmarried this does not apply. For your reference a link to the HMRC guidance is here https://www.gov.uk/hmrc-internal-manuals/capital-gains-manual/cg14540.
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