Transfer of whole Title - Applicable Fees where no monetary consideration

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I own a50% share of a property with my brother  as a legal owner but no beneficial ownership.  The property is my brother's main residence .  I  now want to transfer my share to my brother so he is the sole owner and it will be for no monetary consideration.  We have completed forms TR1 and AP1 but cannot work out what fees are applicable under Scale 2 - is it at the full market value or 50% of it?  Also, is there any tax liability on this transfer. ? many thanks
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Purnima Obhrai

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Posted 2 weeks ago

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Adam H, Official Rep

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Purnima - if the property is registered in your joint names and you are transferring to just one of you then the fee is based on half the current market value
We do not deal with any 'tax liability' so I would recommend you check with HMRC
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Purnima Obhrai

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thank you Adam.  Also , just rechecking the forms before I submit and am in doubt now if the Transferor is just myself with  brother as the Transferee ?   OR are we both Transferors  and my brother is the Transferee?
thank you 

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Adam H, Official Rep

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Purnima - both transferors (you are both on register) and the transferee is whoever is going to stay on register