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NRCGT

Does it apply

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Non-resident/non-domiciled owner of a UK residential property gifts that property to her son's UK based limited company.

Is this a market value gift for NRCGT?

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By Tax Dragon
19th Sep 2019 12:51

I'm not going to read past s1A(3) TCGA 1992 unless you can suggest a reason why the answer would be "no".

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By The Dullard
19th Sep 2019 14:08

Are they related? Oh, it doesn't matter; the clue was in the g-word.

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By Rebecca Cave
19th Sep 2019 14:34

Yes. It is treated as sale at market value. And the tax is due 30 days after completion date.

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By SteLacca
19th Sep 2019 15:14

Damn - my copy of Tolleys is out of date.

Hunted down on legislation.gov.uk and have the answer. Thanks for the pointer.

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Replying to SteLacca:
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By Tax Dragon
19th Sep 2019 15:31

I have had a quick peek at the old law and concede it is far less clear. At least, you would have to read a lot further (so much so that I'm not going to, although I can't believe the answer would be any different).

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