Q My mother and her two sisters inherited my grandmother's house when she passed away a few months ago. They intend to sell it to me and my partner for £100,000. The house has been valued by three different estate agents at between £110,000 and £125,000.
What, if any, are the capital gains tax (CGT) or inheritance tax (IHT) implications of my girlfriend and I purchasing the property at a discount?
A Buying the property at a discount shouldn't have any IHT implications. However ....
Usually when a discounted property is bought most of the property agents help us save the traditional property purchase fees like deposits, stamp duty & legal fees. Not much ides..It will be better if you consult a Property Buying Agent/Consultant for better options.
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