.png)
.png)
A brother and sister own a property they inherited 20 years ago. It has been used by family members and more recently has been let out. To benefit her brother, the sister has suggested she could purchase his interest in the property
My client and her brother own a property that they inherited about 20 years ago. During that period the property has been used by family members and more recently has been let out.
The rental income is not a large amount after expenses have been deducted and the net amount divided between them. I understand that the brother would benefit from some larger cash sums rather than the lower rental share and my client has suggested that she purchases her brother’s interest in the property. I understand that a half share would be worth about £100 000 and about three-quarters of this amount would be gain.
It seems wasteful to pay capital gains tax unnecessarily and I was wondering whether the interest could be purchased in say 10 tranches over the next 10 years. It also occurred to me that money could be advanced earlier.
For example...
