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fodigie2004
Lv 4
fodigie2004 asked in Business & FinanceTaxesUnited Kingdom · 5 years ago

Can I avoid Capital Gains Tax by gifting my second (rental) property to my son?

3 Answers

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  • ?
    Lv 7
    5 years ago

    There is a FULL liability on transfer. You will be liable for Capital Gains Tax (CGT) on transfer. He will be liable for the value of the property received.

    Talk to your accountant if you wish to make provision for tax.

  • Anonymous
    5 years ago

    No. He would also be liable for stamp duty on the transfer.

    Whatever you think of the tax man has already had someone try it and is wise to it.

  • Ziff Spiffington
    Lv 7
    5 years ago

    you might wind up with gift tax or estate tax issues later on

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