Stamp Duty and Capital Gains Query

D

djb2002

Guest
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
 
djb2002 said:
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).
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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).
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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 ?
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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.
I think you collectively really need professional advice to be honest.
 
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