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MarianC
MarianC, Solicitor
Category: Law
Satisfied Customers: 1150
Experience:  20 years experience in Wills and Probates and Trusts
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When transferring the deeds of my house to my son is there

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When transferring the deeds of my house to my son is there tax involved?
JA: Where are you? It matters because laws vary by location.
Customer: UK
JA: What steps have you taken so far?
Customer: None yet
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: No

Good afternoon, thank you for your question. There is no tax to pay at the time of transfer unless the property is not your main home, in which case there could be CGT. Will you be moving out, if you transfer the house and still live there they could be inheritance tax to pay on it when you die.

Kind regards

Marian

Good morning do you need further assistance?

Customer: replied 12 days ago.
Thank you. I'll continue to live in my house. The house is a basic semi valued at around £165k (2yrs ago)...is that below the threshold for I.Tax?

Hello, yes that is below the Inheritance Tax threshold.

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