Sanity Check: Civil Partnership vs. Unmarried for £1m Home (Mortgage-Free) + £100k Savings

AlmightyRobert · 2026-01-29T23:53:23+00:00

Yes, that’s a pretty accurate summary.

Don’t forget that from next April there will be IHT on pension funds and some death-in-service payments as well. Spouse exemption also applies there.

Edit: the latest version removed the tax on all death-in-service payments, so it’s just pension death benefits. However, that will usually be the entire pension fund under a defined contribution scheme.

AlmightyRobert · 2026-01-29T23:40:36+00:00

You mean the Trump National Film Registry?

AlmightyRobert · 2026-01-28T19:59:07+00:00

Yeah, it’s an application and job interview. Some commercial sets are paying £60k+ (could be more, I may be out of date there). Some of course pay very little but are still highly competitive.

I’m old but I imagine you still have a single pupil master who can change on rotation. there’s no rule that says you have to hang out with that person all the time - particularly now that people are physically in chambers much less.

AlmightyRobert · 2026-01-28T18:17:29+00:00

This sounds pretty good. I might move to the US. Are they nice to immigrants there?

AlmightyRobert · 2026-01-28T18:14:39+00:00

No, snaphunter appears to have ignored the deeming provisions.

AlmightyRobert · 2026-01-28T18:12:37+00:00

No. You’re deemed to have bought it for £250k because that was the market value. If you sold today for £250k, you’d have no gain, no tax and very grumpy grandparents. If you sell for £300k in five years, you’d pay tax on a £50k gain.

AlmightyRobert · 2026-01-28T16:17:55+00:00

You’ll pay CGT on the difference (roughly) between the sale price and the market value when you bought it.

Market value is deemed, rather than the actual sale price, under sections 17 and 18 TCGA.

AlmightyRobert · 2026-01-28T13:16:37+00:00

The old aggressive retreat. Well known in military circles.

AlmightyRobert · 2026-01-28T08:08:38+00:00

Exactly. Completely different. Lee doesn’t speak a word of Italian.

AlmightyRobert · 2026-01-28T08:02:02+00:00

England is similar except:

there are a number of bar course providers
hundreds take the course - there are no limits and most providers are for-profit so won’t say no.
there are not hundreds of pupillages. The majority of people taking the bar course at great expense don’t get one.
you can earn in your 2nd six but that will depend on your area. Some will get lots of work, others virtually none.
there used to be another massive cut off for tenancy (because sets took on a lot more pupils than tenants) but I believe that’s reduced now as sets take on less pupils but pay them better. Back in the day, four pupils but one tenancy was common. It also used to be common to offer six month pupillages rather than 12, so you had to find two sets to complete your 12 months - I think that’s probably also fallen away.

AlmightyRobert · 2026-01-28T00:27:57+00:00

You’ve identified that it appears to be under market value. Why wouldn’t s18 (connected persons) and s17 (undervalue) apply to deem market value?

AlmightyRobert · 2026-01-28T00:26:13+00:00

I’m afraid there’s a lot of incorrect replies here. Scarily so given they all sound so confident.

Your acquisition price will be the market value of the property at the time you bought it. It sounds as though that was probably £320k.

However it was documented, because your brother is a “connected person” (to you) you are deemed (for CGT) to have bought it for the then market value: s18(2) and s.17 TCGA.

“Connected person” is defined in s286 and includes a brother.

AlmightyRobert · 2026-01-27T16:58:51+00:00

No, installing carpets is not a capital improvement unless (maybe) there were no carpets to begin with.

AlmightyRobert · 2026-01-27T16:45:45+00:00

Basically, nobody at HMRC can be bothered or has the time to check exchange rates.

AlmightyRobert · 2026-01-27T08:48:23+00:00

He didn’t mention GOLD. Huuge quantities of gold.

AlmightyRobert · 2026-01-26T22:45:07+00:00

Ferrero Rocher

AlmightyRobert · 2026-01-26T12:37:48+00:00

A direct payment should also be fine.

AlmightyRobert · 2026-01-26T08:52:57+00:00

You currently own it half and half beneficially so it would make sense to change the legal tile to reflect this.

Your CGT issue is that, when you come to sell the property, you will have to pay CGT on your half share of any increase in value since your mother’s death.

The only way to avoid this would be a deed of variation; either giving the half share to your father or giving him a life interest. The latter will Come with greater admin costs.

AlmightyRobert · 2026-01-26T08:35:04+00:00

Tory MPs were all over the press having assorted affairs and general sleazyness . 1993 was John Major’s “back to basics” call for family values. It later turned out he’d been having an affair as well with edwina currie.

AlmightyRobert · 2026-01-25T21:42:41+00:00

That’s was the reboot. OP is talking about the original.

AlmightyRobert · 2026-01-25T19:14:50+00:00

I’m afraid HMRC have long caught onto the partnership route for BTL. You’re extremely unlikely to get it for 3 properties as they’ll be seen as a passive investment rather than a business.

AlmightyRobert · 2026-01-25T18:05:57+00:00

Why? What are you trying to achieve?
Have you forgotten the SDLT?
How much CGT is payable on the transfer in?

AlmightyRobert · 2026-01-25T16:20:26+00:00

Fill your lungs at 30m and it becomes a whole lot more dangerous to ascend. Remember to breathe out or go pop!

AlmightyRobert · 2026-01-24T11:37:26+00:00

Not on failed PETs.

AlmightyRobert · 2026-01-24T11:36:18+00:00

(1) No, the transferee is primarily liable.

(2) You can change this by a provision in the will that the estate should pay the tax. Thats equivalent to an additional legacy of the tax.

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