The gift rush: families hand over homes before the budget
Parents and grandparents are rushing to pass on property, cash and investments before a feared tax raid in October’s Budget.
With CGT and IHT raids potentially on the horizon, Private Wealth & Tax Partner Jo Summers, spoke to The Sunday Times‘ Rachel Mortimer about what we are seeing on the ground, as activity reaches fever pitch ahead of the Budget.
However, rushing such a significant gift can bring with it potential unintended consequences, including unnecessary tax bills.
Passing down a property is especially complicated and involves much more than simply making the gift and surviving seven years, so it is wise to seek professional advice.
Discover more in the full article here.
If you would like help or support with this issue, don’t hesitate to get in touch.
For more information or help and advice on the issues discussed in this article, get in touch.
Jo Summers Partner - Private Wealth & Tax +44 (0) 20 7846 2370 jo.summers@jurit.com
Please note this paper is intended to provide general information and knowledge about legal developments and topics which may be of interest to readers. It is not a comprehensive analysis of law nor does it provide specific legal advice. Advice on the specific circumstances of a matter should be sought.
