Agricultural land

Apologies this is not one of my areas and i am going to speak to a specialist but just want a heads up to some of the areas so i can look in to it as well.

Farmer wants to gift chunks of land to son. (Talking millions of pounds in total land)

Would qualify for Agriculural relief for IHT, and also could be a PET.

CGT - Are there any reliefs here? Or is cgt on MV?

SDLT - Is this payable if gifted?  Is consideration deemed as MV?

Are there any VAT implications?

I do not expect free advice here (ie chapter and verse) just some pointers would be great before i speak with specialist.

Comments
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Not that complicated

michaelblake |

Reliefs

cathygrimmer |
cathygrimmer's picture