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? Will there also be stamp duty tax to pay? There are 2 properties which want to be gifted with no mortgages on either. There is significant capital gain as the properties are both in the London area.
Thanks
Replies (1)
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Hi guys/girls,
Probably best not to quote Jimmy Savile on a public forum.
I want to know ....
Were you never told as a child that "I want" never gets?
If you are keen to understand your options to avoid substantial capital gains tax liabilities, the best advice is for you to speak to your accountant who knows all about you and your financial situation.