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.
- Benefit in Kind 272 6
- Lack of VAT Receipt 80 2
- Help with CGT please 45 2
- How do you find shareholders of a Cyprus Company ? 313 17
- Will I need to resign? 919 11
- Cocaine anyone? 654 11
- HMRC won't let me set up online DD for PAYE 251 4
- Anyone using BTC Accounts Production yet? 138 4
- Accounting for cash put into Ltd 183 3
- Allocation of Receipt from DWP 175 2
- Solicitors now, Accountants next 835 11
- Depression - HMRC penalties case won because of this illness. 542 19
- How come if you claim benefits you are not entitled to you either have to pay a 50% penalty or are sent to court and either fined or sent to prison (sometimes suspended) and end up with a criminal record. 707 13
- Personal pension 443 9
- Business rates consultancy 268 4
- Wrong tax code 180 6
- SELLING A PROPERTY at LOSS/PROFIT - CAP GAINS ALLOWANCE 102 2
- Am I getting Soft?? 314 10
- Accountancy practices - are you closed over Christmas or do you let your staff take it off? 1,063 31
- Deferred Tax 477 8
- Hive up 513
- Accounting referance change & deficient accounts. 475
- corporate hierarchy 453
- Advice - 297
- Anyone had HMRC refusing to act on EPS database glitch? 242
- WWOOFers 237
- Art Gallery - Splitting a property between business and personal use 220
- Tax liabilities in USA for warehoused products 195
- The booking.com con 179
- UK State pension paid in NZ 168