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Gift relief claim

on transfer of property

Didn't find your answer?

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?

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Out of my mind
By runningmate
10th May 2016 06:33

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

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Replying to runningmate:
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By Jigs
10th May 2016 07:12

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.

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Replying to Jigs:
Out of my mind
By runningmate
10th May 2016 08:36

Thanks. I now understand the question. Sorry I don't know the answer. No doubt others will.
RM

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