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Tax implications on buying parents house

Last post Mon, May 11 2009, 6:49 PM by super7. 0 replies.
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  •  Mon, May 11 2009, 6:49 PM

    Tax implications on buying parents house

    My parents owe approx 20k on a property valued at approx 100k.

    I want to settle their mortgage & remortgage to 40k. I currently live in rented property in London having recently sold my Glasgow property, as such I have no current mortgage hence buying parents house seems attractive.

    As 40% tax payer what would be the most effecient way of proceeding ?

    • Post Points: 5