About stamp duty by joint tenancy for overseas property

Hi, I am a UK tax resident. I got a property in UK. My father is non UK resident, and he is going to add me in to his property which is located outside UK by joint tenancy. Does any stamp duty tax been applied in this case? Also, does this will incur any inheritance tax ( for future)? Pls reply to confirm the details. Thanks for your support in advance. Thanks Best regards, 

Name removed admin .

Hi,
Please refer to:
Stamp Duty Land Tax
Any IHT would only be considered upon UK assets.
Thank you.

Hello, Thanks for your response . And I refer to the link of SDLT you given and I find out below circumstance may applied to me. Exemptions You do not have to pay SDLT or file a return if: no money or other payment changes hands for a land or property transfer If there is no money & etc changes hands and just like a giving gift progress, Then, there havs no any SDLT incurred, right? Would you pls reply to confirm and advise. Thanks a lot Best regards, Tony

Hello :) I’m seeking some advice on a property-related situation involving UK tax laws. I currently live in the UK but own a property in my home country (outside the UK), where my family resides. This property was my primary residence before I moved to the UK. Now, I’m considering transferring ownership of the foreign property to my brother, and I’m unsure about the tax implications and other legal concerns. Here are the main points of my situation: - Ownership of Property Abroad: The property is in my home country, and my family currently lives there. This was my main residence before I relocated to the UK. I’m thinking of transferring ownership to my brother. Potential UK Tax Concerns: - Capital Gains Tax (CGT): Since the foreign property was my primary residence, how will this impact CGT if I gift the property to my brother? Will the property be considered a "disposal" by HMRC, and how would CGT be calculated on the market value of the property? - Main Residence Relief: Would I qualify for any main residence relief to reduce CGT since this was my primary home before moving to the UK? - Double Taxation: I’ve heard about double tax treaties between the UK and other countries. Could this help prevent me from paying tax twice on the same gain? How would I apply for this? I’d love to hear from anyone who has dealt with a similar situation or has expertise in cross-border property transfers. Any advice on how to manage the tax and legal implications would be much appreciated! Thanks in advance for your help!

Hi ,
 

We do not answer questions on Stamp Duty Land Tax on this forum.  For more detailed guidance please either phone or email our specialist team.  Their phone number is 0300 200 3510.  Their email is: Annual Tax on Enveloped Dwellings  . The Stamp Duty Land Tax phone lines are open Monday to Friday from 8 30 am to 5 pm .  Thank you .