Sheltered accommodation transfer to brother?Make Text Bigger
I bought a sheltered accommodation property for my mum to live in some years ago and is unencumbered. I now wish to transfer part of it to my brother each year to use up my capital gains and will do this by declaration of trust.
I could register it at land registry, but with these properties if there is an assignment of ownership there is a fee to pay of 1% of the value of the property and I do not want to risk paying this.
I therefore do not intend to register the DOT, but wanted to check that it will still be good enough for HMRC when working out gains when selling?
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