YOUR QUESTIONS ANSWERED

What are the tax implications of helping our son to buy a home?

Q We are currently in the fortunate position of owning two houses, one of which we are in the process of selling. We are looking at using part of the proceeds to help our son and his girlfriend buy their first home, but are not sure what is the best way to go about this without running foul of the tax laws – are you able to advise?

Mrs S Peterson, Grantham

Morag Watson, tax partner at Azets replies:

Let me start with the sale of one of your two properties.