thought I published this earlier but here goes again....
Am I right in thinking that you cannot obtain gift relief claim on the tranfer of land even if the transfer holds shares in the company which trades on the land?
thought I published this earlier but here goes again....
Am I right in thinking that you cannot obtain gift relief claim on the tranfer of land even if the transfer holds shares in the company which trades on the land?
Replies (3)
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Are you referring to SDLT, CGT or IHT?
Did you mean to ask:-
Am I right in thinking that you cannot obtain gift relief for [whichever tax] purposes on the transfer of land even if the transferor [or did you mean the transferee?] holds shares [what proportion?] in the company which trades [what trade, farming, property letting?] on the land?
RM
I'm referring to CGT.
Yes the transferor and transferee are involved in the company owning 5% and 20% respectively.
The trade is an amusement arcade, land is arcade area plus car park.
Thanks. I now understand the question. Sorry I don't know the answer. No doubt others will.
RM