-
WEBSITE
Gifting 2nd property (holiday home) - GWROB - AccountingWEB
Hi I have a client interested in gifting their holiday home to their children. As it stands, the property has not been let commercially as a holiday let for many years and the children and their families are the main users although my client does visit the property on occasion.
Do more...
Share, comment, bookmark or report
-
WEBSITE
CGT and gifting Investment company shares - AccountingWEB
I have a property investment company and am looking to appoint an accountant/solicitor to help with gifting my LTD company shares to my children. I understand the Inheritance tax aspect and HMRC will consider I will be disposing of the shares at Market Value.
Do more...
Share, comment, bookmark or report
-
WEBSITE
Gifting property to adult children CGT? - AccountingWEB
Gifting property to adult children CGT? A client was given a seaside holiday home by her mother 7 years ago. Approx value at that time 500,000. So they are through the 7 year time frame re IHT for gifts.
Do more...
Share, comment, bookmark or report
-
WEBSITE
Tax basics: The settlement provisions and children. By NIchola Ross ...
Nichola Ross Martin looks some of the traps in the settlement provisions for parents. What are referred to as “the settlement provisions” for tax are now found in Chapter 5, Part 5 of ITTOIA 2005. The rules span s 619 to s 648 and they impose a tax charge on a “settlor” of a “settlement” where he or she: retains an interest in the property that is settled and any resulting income ...
Do more...
Share, comment, bookmark or report
-
WEBSITE
Gifting Property - AccountingWEB
Best way to gift investment properties to children for tax purposes (no mortgages)? Hi guys/girls, I want to know if anyone has any experience in the best way to gift second homes/investment properties from parent to child. I assume IHT can be avoided if given before 7 years of death but how can cgt be minimised/avoided?
Do more...
Share, comment, bookmark or report
-
WEBSITE
Gift My BTL Property To Children In Stages - AccountingWEB
Hi all My wife & I are planning to gift a BTL Investment Property (currently in our joint names) to our two adult children & both of us are higher rate
Do more...
Share, comment, bookmark or report
-
WEBSITE
Gifting of property to children, tax implications? - AccountingWEB
The properties are owned jointly with her husband. They wish to transfer the ownership of one of the properties to their three grown up children. They are seeing a solicitor about getting this done legally and have asked me if there are any tax implications. I believe that although this is a 'gift' in a sense that from HMRC's perspective a sale ...
Do more...
Share, comment, bookmark or report
-
WEBSITE
Gifting property to limited company - AccountingWEB
I understand gifting unecumbered doesnt encouter SDLT person to person but not sure if the same applies person to company. Also they are hoping to get back the 3% they will pay on their new home. Property is worth circa £800k. Also for CGT it would be tax free as it was their personal residence up till now and they are due to move out next ...
Do more...
Share, comment, bookmark or report
-
WEBSITE
Tax Implications for gifting property to a child - AccountingWEB
Local builder has built a house which he intends to give to one of his children to live in, this can be wholly gifted or it could be"sold" at cost.
Do more...
Share, comment, bookmark or report
-
WEBSITE
Gifting Rental Property but wish to retain income - AccountingWEB
Gifting a rental property to family but wanting to retain the income from it, is it possible ?
Do more...
Share, comment, bookmark or report
Comments