Passing on a buy to let (BTL) property to your child is an excellent investment in their future. They’ll benefit from both the value of the asset and the income it generates. However, if you have a property you’re looking to transfer, you need to be aware of the Capital […]
Mark McLaughlin highlights a potential problem for married couples and civil partners regarding valuations of jointly-owned property. Valuing assets such as land and buildings is potentially tricky for various tax purposes, including inheritance tax (IHT) on making a chargeable lifetime transfer, or on death. One area of potential difficulty is […]
Mark McLaughlin looks at furnished holiday lettings in the context of inheritance tax business property relief. Business property relief (BPR) is a valuable inheritance tax (IHT) relief, which is available to business owners if certain conditions are satisfied. The relief applies to ‘relevant business property’, including a business or interest […]
Mark McLaughlin highlights a recent case illustrating the importance of being able to demonstrate that a joint tenancy of property has been severed. Joint asset ownership (e.g. in a property) is an important issue for inheritance tax (IHT) and estate planning purposes, particularly between married couples and civil partners. The […]
