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‘A neighbour has constructed onto my widowed mom’s land. Will I’ve to pay tax?’

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Expensive Property Medical doctors,

My dad and mom personal approx 12.5 acres of grazing land, which is registered individually to their dwelling. 

Sadly, we misplaced my father late final 12 months. I’m within the strategy of transferring the land into my mom’s sole identify with the Land Registry.

Nonetheless, the plot has attracted numerous curiosity from individuals on the lookout for grazing and improvement prospects. 

Extra not too long ago, the proprietor of a neighbouring property has constructed two massive decking areas and outside buildings over his boundary, their dividing ditch and onto a number of ft of my dad and mom’ land with out permission. Clearly, they’ve taken full benefit of an aged girl at a tough time.

My poor mom has had sufficient to take care of not too long ago. She has subsequently recommended re-registering the title in my identify by means of gifting the land (I’m an solely little one). I can’t appear to discover a particular reply whether or not this is able to incur any rapid tax or costs?

MH, by electronic mail

Taxation guidelines are horribly difficult and I would definitely counsel you are taking recommendation from an accountant who would be capable to advise you intimately. 

Nonetheless, the overall rule is that if somebody offers away land (aside from to a partner), that’s deemed to be a disposal at market worth, even when no cash modifications arms. The individual making the disposal is subsequently liable to pay capital good points tax on cash they by no means had!

Moreover, any such transaction needs to be reported inside 60 days and tax paid inside that point.  

As I perceive, nevertheless, the one cause your mom is proposing to switch the land to you is in order that, as authorized proprietor, you’ll be higher positioned to argue together with your neighbour, who apparently is trespassing in your mom’s land. 

In that case, the reply is pretty easy. Your mom can execute a switch of the authorized title to you however that ought to document that you just maintain it as trustee on your mom. In different phrases, you’ll simply be the “paper” proprietor. Your mom will stay the helpful or “true” proprietor.  

HM Income & Customs go by helpful possession relatively than authorized possession, so this transaction wouldn’t give rise to a capital good points tax cost.

David Fleming is the pinnacle of property litigation at William Heath & Co solicitors (williamheath.co.uk)

Each week, The Telegraph’s Property Medical doctors carry experience on renovations and DIY, planning, shopping for and promoting, lettings, authorized points and taxes. Ship your inquiries to propertydoctors@telegraph.co.uk

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