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Question on Gift Tax

mollzer · 2009-09-30 12:00:44

I am currently buying a house and if I were to put my partners name on the Deeds how much a percentage of the property value would we have to pay? And secondly, does this gift tax have to be paid out in one lump sum or can it be paid over a period of time? Thanks in advance.

30-09-2009 1:00pm

#1

mollzer

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Join Date: February 2007

Posts: 210

I am currently buying a house and if I were to put my partners name on the Deeds how much a percentage of the property value would we have to pay?

And secondly, does this gift tax have to be paid out in one lump sum or can it be paid over a period of time?

Thanks in advance.

0

Comments

#2 30-09-2009 4:33pm

TaxingTimes

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Join Date: August 2009

Posts: 145

If you are getting a mortgage, you need to consider whether the lender will allow you to put your partner's name on the deeds.

Gift tax will depend on the value of the gift, and the return needs to be made under self-assessment within 4 months where the total gifts exceeds 80% of the threshhold. (the threshold for "strangers" in 2008 was €26,060)

Provision can be made for payment in instalments in certain cases.

I suggest that you take professional advice before doing this.

0
#3 30-09-2009 4:36pm

Mr. Incognito

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Posts: 9552

Read the charter-

Seek professional advice.

Do not ask for a valuation of gift tax on an internet forum.

Thread locked.

0

This discussion has been closed.