Property donation tax?

[businessor]

Hello

Parent is not UK tax citizens and wish to buy a property in the UK.

Can this then be donated to the child which is both UK and at the parent's country tax resident and what would be the tax implications?

Who will pay tax and under which jurisdiction? How much approximately?

Thanks!

 

[Gyumri]

SDL Tax may apply on the purchase.
The parent may need to pay tax in their country if gifting the property.

A trust deed might be a better route but your query really requires a solicitor and accountant to advise.

 

[Bobbo]

Hello

Parent is not UK tax citizens and wish to buy a property in the UK.

Can this then be donated to the child which is both UK and at the parent's country tax resident and what would be the tax implications?

Who will pay tax and under which jurisdiction? How much approximately?

Thanks!

All tax implications including who will pay, which country they will pay it to, and how much it will be may depend on the Double Taxation Treaty, if any, between the UK and whichever other country involved, which you haven't stated.

Any reason why parent can't just give child (who I assume is an adult) money and the child buys the property?