Lucy

THANKS FOR YOUR ANSWER. To double-check, this amount won't be a gift. It is a load and I have to pay it back later. Does this change anything? Thanks

Hello, Do I pay tax OR have to declare money I receive from abroad as a loan from a friend? Thanks

Thanks for clarifying the point. Can you pls answer my second question about the receipts of refurbishment work done on a property? Do these receipts should be in the name of the owner of the property, or can they be in someone else name? Like a business partner for example. To be valid for HMRC.

Thanks for your response. May I clarify if a Minute of Agreement that was done with a solicitor is satisfactory instead of a declaration of trust? My second question is about the receipts of refurbishment work done on a property. Do these receipts should be in the name of the owner of the property or can they be in someone else name? Like a business partner for example. to be valid for HMRC to provide CGT. Thank you

Extra note for clarification: this business partner secured the deal, and the initial agreement was to share any profit we make on the sale of this property. So, it was my cash and his skills in securing the deal.

Additional Notes: I own the property fully on the title deed, purchased with my cash, and paid the stamp duty myself. The agreement says that any net profit on the property sale will be shared with us. Who is liable to pay the CGT, both of us or only me as the property owner?

Hello, I’ve recently purchased a property (I am the only owner), but I have a contract with a business partner who shares with me any net profit I make on the sale of this property. As the title deed has only my name, would HRMC require me to pay capital gain on the whole profit (including his share), OR would each of us pay capital gain on our own share of the profit separately? Can you advise me, please? Thanks