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Sam, Accountant
Category: Tax
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Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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I wish to gift my (mortgage free) (jointly owned) home (that

Customer Question

I wish to gift my (mortgage free) (jointly owned) home (that we both will continue to live in) to my wife.
She plans in the near future to put the house into a trust for IHT etc purposes?
Other than if I were to die within 7 years of the gifting, for the two discrete transactions are there any tax implications for any of the transactions?
Submitted: 1 year ago.
Category: Tax
Expert:  bigduckontax replied 1 year ago.

Hello, I am Keith, one of the experts on Just Answer, and happy to help you with your question.

My immediate reaction is why? To whom do the pair of you intend to bequeath the residence?

Inter spousal transfers are outside the scope of UK taxation.