Q&As

What are the CGT and SDLT implications of a bare trustee (mother) transferring the entire trust property comprising a number of residential properties into the name of the sole beneficiary (her son) for nil consideration?

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Published on LexisPSL on 19/10/2016

The following Tax Q&A provides comprehensive and up to date legal information covering:

  • What are the CGT and SDLT implications of a bare trustee (mother) transferring the entire trust property comprising a number of residential properties into the name of the sole beneficiary (her son) for nil consideration?
  • Bare trusts and CGT
  • SDLT

What are the CGT and SDLT implications of a bare trustee (mother) transferring the entire trust property comprising a number of residential properties into the name of the sole beneficiary (her son) for nil consideration?

Bare trusts and CGT

A transfer to a nominee or a bare trustee, under which the beneficial title does not move, is ignored for capital gains tax (CGT) purposes. Any transactions by the nominee or bare trustee are treated as transactions of the beneficial owner (section 60 of the Taxation of Chargeable Gains Act 1992 (TCGA 1992)). The beneficiary steps into the shoes of the trustee. Therefore disposals to

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