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GIFTING Property, Stamp Duty, Tax Credits, Inheritance Tax

If a US Green Card holder, not owning any property, cash buys a property in UK ( under GIFTING for GBP 100,000 ) for her son to stay in, does NOT charge him any rent, but title in her name, will she be liable for any UK / USA taxes ? Will the son be liable for any inheritance tax after her death ?

Asked on Oct 15 2017, General in Birmingham | Report content

Answers (1)

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  • Hello - you should probably speak to a qualified accountant / tax advisor about this. She will only be liable for for income tax if she was to receive rent (as consideration). There may also be inheritance / capital gains tax implications also.

    Answered on Oct 20 2017, Report content

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