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Ask Your Own Question, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 5115
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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Facts: We are a happy unmarried couple cohabitating

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We are a happy unmarried couple cohabitating for past 5 years.
I bought a property putting down sole deposit and have sole-ownership with mortgage in my name (and I paid the mortgage every month).
We have both lived in the property as primary residence.
We are selling the property now to move somewhere else and I want 25% of the proceeds from the sale to go to my partner (as its fair since she contributed towards house bills)
Are there tax implications for her receiving this money (either directly from the conveyancers during the sale or from me as a gift after the sale of the house)?
Thank you for your question.First of all, the recipient of a gift receives it free of tax under UK tax. There are tax implications for inheritance tax purposes. Your gift to your partner would be teated as a potentially exempt transfer for IHT purposes and the seven year rule would apply to this gift. If you survive 7 full years after making the gift then the gift is out of scope of IHT as far as your wealth/estate is concerned.More information on this can be found here and here I hope this is helpful and answers your question. If you have any other questions,please ask me before you rate my service – I’ll be happy to respond. and other Tax Specialists are ready to help you
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Best wishes