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My father gifted me and my two sisters a house tens year
Hello, My father gifted me and my two sisters a house tens year ago. The house is owned equally between us. We have rented the house and paid tax on income. Now my sisters have moved away and wish to … read more
bigduckontax
bigduckontax
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FCCA FCMA CGMA ACG
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I am thinking of buying my mums hose for £500,000. It was
I am thinking of buying my mums hose for £500,000. It was valued a few years ago at £485,00 and needs modernising so is effectively at Market value. She want to give £100,000 to me & £100,000 to my br… read more
bigduckontax
bigduckontax
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I am proposing to buy my parents house from them to release
Hi, I am proposing to buy my parents house from them to release some of the cash value. I intend to pay full market value in cash (85,000). After the sale is complete, they will transfer 45,000 back t… read more
bigduckontax
bigduckontax
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My wife and I own a second home worth between £250k and
My wife and I own a second home worth between £250k and £275k (depending on which estate agent you believe).My Mother has one property which she lives in and has done since purchase.It is worth around… read more
bigduckontax
bigduckontax
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I am struggling to get a mortgage currently due to my recent
Hi Sam, I am struggling to get a mortgage currently due to my recent self employed status and therefore somewhat stuck renting. My question is, if my mother purchased a buy to let property with the id… read more
bigduckontax
bigduckontax
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Big Duck on tax Last week you answered my question re
Big Duck on tax Last week you answered my question re incorporation relief. Now if my client introduces several commercial buildings which are rented out into a limited company and then gives shares i… read more
bigduckontax
bigduckontax
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I would like to purchase a half share in my mothers house currently
I would like to purchase a half share in my mothers house currently worth £600,000, we would live with her and look after her as she's 81 years old so it would also be our main and only residence, she… read more
Tony Tax
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High School or GED
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2 years ago we gave our daughter approx £2.5m in the hope we
2 years ago we gave our daughter approx £2.5m in the hope we would live for at least another 7 years and thus avoid IHT on it. She used those funds to set up a limited company and bought a number of p… read more
bigduckontax
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We are six children.Our mother is becoming of age. She is living
We are six children.Our mother is becoming of age. She is living in her own private bungalow. We (the children) want to make an arrangement to take over the house. We want her to be able to stay there… read more
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Inheritance tax Both my parents are alive but are thinking
Inheritance tax Both my parents are alive but are thinking of gifting their home to my sister and I but will remain living in it. I understand this would not be considered a gift and would be subject … read more
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Question re IHT following my own research. I have a portfolio
Question re: IHT following my own research. I have a portfolio of properties residential and commercial held under a limited company. I have 5 children, to whom I am going to give one or two propertie… read more
Sam
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My parents gifted their joint owned property to my wife and
My parents gifted their joint owned property to my wife and I in Aug 1995 value 120K. They continued to live their [GWR] until Feb 2007 when they went into a care home [ financed by social services, p… read more
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My mother is planning to gift her house to the children - she will then live togeather wit
My mother is planning to gift her house to the children - she will then live togeather with a daughter paying 1/2 market rent. It will be the only residence of the daughter, however that daughter trav… read more
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Good day, My mother wishes to give me her house approx value
Good day, My mother wishes to give me her house approx value £280000. It is her only residence. When am I liable to pay capital gains tax: a) on the day that the gift is made b) at the end of the tax … read more
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I have a plot of land that I have had passed for building tow
I have a plot of land that I have had passed for building tow properties.One plot i wish to sell the other i am giving to my daughter as a wedding gift. The land belongs to the frotage of my small hol… read more
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My parents have lived apart for 10 years although they remain
My parents have lived apart for 10 years although they remain married.My father has lived in the family home and my mother has rented privately.As part of this arrangement it was agreed that he would … read more
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If I gift a house I do not live in to one son, and gift the
If I gift a house I do not live in to one son, and gift the other son a comparable value of cash or shares, what are the inheritance tax implications? My current understanding is that if I survive 7 y… read more
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Julie Kingham
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In 1997 my mother moved house and the new property was purchased
In 1997 my mother moved house and the new property was purchased in the joint names of myself and my sister. The purchase was financed by the sale of my [email protected] existing property. She has recently di… read more
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