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JGM
JGM, Solicitor
Category: Scots Law
Satisfied Customers: 15229
Experience:  30 years as a practising solicitor.
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My son owned a property in Aberdeen for 15 years value

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My son owned a property in Aberdeen for 15 years value £225.000. He decided to move in with his girlfriend& put his house on the market last April. Unfortunately despite 2 price reductions his property remains unsold as the property market in Aberdeen is flat. Obviously now with coronavirus there will be no movement for some time. When he moved in with his girlfriend he paid 50% of the value of her house in August last year (approx£200.000) which was due to her husband. Under the present iniquitous tax arrangements what will his tax bill amount & when. Finally has this tax been suspended due to the coronavirus problem?
JA: Has your son talked to a lawyer about this? What country does your son live in? If different, what country does this legal question relate to?
Customer: Not as yet. Scotland.
JA: What steps has your son taken so far?
Customer: None other than trying to sell his house
JA: Anything else you want the Lawyer to know before I connect you?
Customer: Nothing more

Thanks for your question. I am a solicitor in Scotland. Did he take title to a share of his girlfriend’s house? If not no tax arises at the moment. He may have a capital gains tax liability on any gain in value of his own house but not until it sells. Happy to discuss any specific issue. I hope that helps. Please leave a positive rating on the star rating system on your screen. That will allow JustAnswer to credit me for helping you today.

Customer: replied 3 days ago.
I understand he did take joint title

If that was in consideration of £200,000 and perhaps taking on a mortgage on the girlfriend’s house then Land and Buildings Transaction Tax is likely to have been payable at the time of the transfer. The solicitor dealing with the title transfer would have asked him for the tax in advance of the transaction completing. If this didn’t happen then the transaction may have been structured differently to avoid the tax. He would have to ask the solicitor how it was done. I hope that helps. Please leave a positive rating on the star rating system on your screen. That will allow JustAnswer to credit me for helping you today.

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