If a partial transfer of a buy-to-let property is to be done what are the taxes to pay? The transfer is to be done with remortgage simultaneously.

Arthur Weller replies:
If: (a) A is giving part of the property to B; or (b) if A is selling it to B, and A and B are connected, it is deemed for CGT to be a transfer at present market value (PMV). If this PMV is more than the property originally cost, A will be making a capital gain. SDLT is dependent on how much B pays A for the property transferring hands. If, in exchange for the transfer of the property, B takes over responsibility for debt (a mortgage) that A was responsible for until now, this is equivalent to B paying A, and B is liable for SDLT on the amount of the mortgage change.