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bigduckontax, Accountant
Category: Tax
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My Mum immigrated to the UK about 18 years ago from South

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Hi. My Mum immigrated to the UK about 18 years ago from South Africa at the age of 58. Due to her age we could not get a standard 25 year mortgage and so I took the mortgage out in my name (I am her daughter). Mum paid the deposit and each month pays into my bank account the mortgage amount. Although registered in my name this is my Mum's flat. She now wants to sell the flat and we are worried about CGT. Would this be considered a second property as I already have a home, or is there an argument to say otherwise? I'd be grateful for your advice.

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Thank you for your question.

Did you sign any documents/declaration that my mother had 100% financial interest in the property and that it was registered in your name for mortgage purpose only.

Many thanks

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bigduckontax, Accountant
Category: Tax
Satisfied Customers: 4948
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Customer: replied 1 year ago.
I don't believe any documents were signed in that regard

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