Stamp Duty and Capital Gains Query

[djb2002]

My son is looking to purchase a house and has approx 70% of the money available. We (his parents) have the remaining 30% available.

As it is his first time house purchase (and only property), I believe that he wouldn't be liable to Capital Gains Tax should he decide to sell it in the future (and make a profit).

Is there any problem in the property being in his sole name (with us contributing towards it).

Is there any advantage/disadvantage with whose names are actually down on the deeds ?

At the moment the property may just be an investment opportunity, but also possible that we all may move into the property (and keep our other house - in our names (his parents), and rent this out.

What would be the best and most tax efficient way of doing this ?

Thanks

 

[ClubMan]

As it is his first time house purchase (and only property), I believe that he wouldn't be liable to Capital Gains Tax should he decide to sell it in the future (and make a profit).

If he lives in it as his PPR then this is true.

Is there any problem in the property being in his sole name (with us contributing towards it).

There could be. Browse through the Revenue press releases for a couple from last year or the year before about FTBs being subsidised by others when purchasing.

Is there any advantage/disadvantage with whose names are actually down on the deeds ?

Of course. For example if you want to secure your 30% interest in the house then you really need your names on the deeds. This will obviously have other implications for tax etc.

At the moment the property may just be an investment opportunity, but also possible that we all may move into the property (and keep our other house - in our names (his parents), and rent this out.

What would be the best and most tax efficient way of doing this ?

I think you collectively really need professional advice to be honest.