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Posted Sun, 08 Sep 2024 22:49:05 GMT by Scot54 Scot54
I am looking to transfer my main residence, and only property, to my son and daughter. I am mortgage free. I live in a holiday location so it will serve them as a holiday house and potential rental. I intend to buy a new main residence nearer them, to see them more often and to help me as I get older. I appreciate that if I wish to have use of my current house , perhaps for a week to two during the summer, after transfer I will have to pay market rent to ensure the transferred property stays outside my estate (assuming I live another 7 years). If I do the transfer before I buy a new main residence will I avoid paying the Additional Property Tax (I live in Scotland) ?
Posted Wed, 11 Sep 2024 14:16:35 GMT by HMRC Admin 19 Response
Hi,
Please contact Revenue Scotland for advice.
Contact Us
Thank you.

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