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Showing results for tags 'tax strategy'.
Hi, I’m looking to gift one of my personally owned BTL properties to my wife in order to benefit from her lower tax bracket. I’ve read that property can be gifted by either (1) legal ownership change or (2) beneficial interest change – the main difference between the two that beneficial ownership gives an economic interest in the property (i.e. share in: rent proceeds/ sale proceeds/ tax benefits) but no legal ownership & control. Has anyone gone through this process? Any advice on how difficult/straightforward it is? Cheers
Hi All My father-in-law owns a plot of land in Yorkshire in his own name, the land is just under of acre in size and has been rented as allotments for many years now. I’m trying to support the family to develop the land to either a car park or housing development (subject to best return on investment). As my farther-in-law is in his late 60’s I want to consider the future and reduce any tax burdens that will come up once we develop the land. My father-in-law has 3 daughters in their 30's, his wish is that if we can make this development then he wants all the money to benefit them dir