Avoiding Stamp Duty and Inheritance Tax - Transfer Property to Children

Рет қаралды 14,540

Күн бұрын

Are you looking for smart strategies to mitigate hefty stamp duty and inheritance tax burdens while transferring property to your children? Look no further! In this comprehensive guide, we delve into the intricacies of navigating tax laws, exploring key dates, and understanding essential tax forms.
Key Dates:
Inheritance Tax: Familiarize yourself with the latest inheritance tax thresholds and rates to optimize your planning.
Stamp Duty: Stay updated on stamp duty thresholds and changes to ensure a smooth property transfer process.
Tax Forms:
Inheritance Tax Form IHT400: Learn how to fill out this crucial form accurately and efficiently.
Stamp Duty Land Tax Return (SDLT1): Master the SDLT1 form to comply with stamp duty requirements seamlessly.
Examples:
Scenario 1: We'll walk you through a scenario where a family transfers a property to their children, outlining the tax implications and the steps to minimize tax liabilities.
Scenario 2: Explore a case study where proactive tax planning effectively reduces stamp duty and inheritance tax burdens, providing insights and strategies applicable to your situation.
Unlock the secrets to preserving your wealth and securing your family's financial future by subscribing to our channel for more invaluable tips and guides!
Hashtags:
#PropertyTransfer #TaxPlanning #InheritanceTax #StampDuty #WealthManagement
Use our free US/UK tax calculators: www.optimiseac...
Need to file UK or US tax returns? Let us know here www.optimiseac...
Transfer US$ and UK£ without the high commission and fees: www.currencies...
Book UK tax consultations: Use code KZfaq15 to get a 15% discount optimiseaccoun...
Get an US & International tax advice - Use code KZfaq15 to get a 15% discount: optimiseaccoun...
Get UK / US Property Investment Advice: optimiseaccoun...
US specific support
Open a UK or US bank account: wise.prf.hn/cl...
Apply for an Individual Tax Identification Number (ITIN): www.optimiseac...
File backdated US taxes to the IRS: www.optimiseac...
Get a Cost Segregation study on US Real Estate Property: zjf538.isrefer...
Set up a US LLC company: www.optimiseac...
Set up a US C Corporation: www.optimiseac...
Want reliable UK/US pension advice: planfirstwealt...
UK Specific
Set up a UK limited company: www.optimiseac...
Open a UK business and personal bank account and get £50: www.tide.co/pa...
Get a Stamp Duty (SDLT) refund: www.optimiseac...
Claim Capital Allowances on Furnished Holiday Lets (FHL): www.optimiseac...

Пікірлер: 12

@UK-Property-Tax-Accountants 2 жыл бұрын

Important - read this www.optimiseaccountants.co.uk/knwbase/cgt-property-into-a-trust-for-children/ Invest in a SSAS pension here www.optimiseaccountants.co.uk/services/ssas-pensions-for-uk-landlords/ Download our FREE property investors checklist www.optimiseaccountants.co.uk/property-ebook-and-check-list-download-thank-you/ Our live events www.optimiseaccountants.co.uk/tax-seminars/

@bertiewooster3326 6 ай бұрын

Be very very very careful about giving it away make sure you do it in good time 7 years at least...have no connection to the house or gift the HMRC know every trick in the book every trick! Give it away live 7 years or spend it holidays etc.I know the dodges.

@UK-Property-Tax-Accountants 6 ай бұрын

Agreed 👍

@hamzah3138 2 жыл бұрын

Thank you, I've subscribed.

@UK-Property-Tax-Accountants 2 жыл бұрын

You are welcome and I’m pleased at the video what are useful

@lawrie3448 4 ай бұрын

Not really ! The question was how to pass a buy to let to your children . Our BTL is listed as tenants in common with our son who was gifted 25% from his grandfather ! Our wills gift the next proportion ( 37.5% ) to him . Is this taxable ?

@UK-Property-Tax-Accountants 4 ай бұрын

Yes that would be taxable

@lunsche9281 2 жыл бұрын

It seems that under the relevant Stamp Duty rules, a voluntary disposition of property (ie: a lifetime gift of property at zero considerstion) is chargeable with usual stamp duty as if it were a conveyance on sale at its market value. So, is it the case that the Deed of Gift of property to children during lifetime will still be subject to usual stamp duty ?

@UK-Property-Tax-Accountants 2 жыл бұрын

We have to be mindful that taxes sometimes combine and sometimes taxes remain separate. In regards to stamp duty land tax, it is only charged when there is consideration taking place or when you move a property into a limited company

@UK-Property-Tax-Accountants 2 жыл бұрын

Please note that the capital gains tax would be charged on gifts, which you have described

@Fish-bw9yh 2 жыл бұрын

What are the SDLT, Capital gains and IHT implications if my parents add me to the deeds of the property that we all live in and we re-mortgage so that we become joint tenants who all pay the mortgage? Do survivorship, gifts with reservation and co-habitation cause issues?

@UK-Property-Tax-Accountants 2 жыл бұрын

There are plenty of tax implications with what you have said. I recommend you get tax advice before you do anything