Transferring property to children tax efficiently

Given the difficulties many first time buyers face in getting their first property, it's becoming more common for parents who have benefited from the property boom, to transfer property to their children. This can give the children a 'foot' on the property ladder - but if you're considering this ensure you consider the tax implications in detail. In particular you'll be most concerned with capital gains tax, inheritance tax and stamp duty. We've just released an article covering the impact of property transfers by parents on all of these taxes and in particular looking at the offshore dimension (eg the impact of parents and children's non UK resident or non UK domicile status as well as transfers of overseas property). Transfer of property to children tax efficiently You may also be interested in our property tax toolkit which has just been released.