Taxation logo taxation mission text

Since 1927 the leading authority on tax law, practice and administration

Property plan

14 March 2007
Issue: 4099 / Categories: Forum & Feedback

A potential new client came to my office the other day. He owns half a dozen residential properties that are let out. For personal reasons, he wishes to gift these into a company, the shares in which will be owned wholly by his (adult) daughter. This did not seem to me the best of ideas taxwise and I did try to dissuade him, but he is quite adamant that this is what he wants to do. Before I put the wheels in motion, can readers give me some advice on the tax aspects so I am sure that I have covered all bases here?

A potential new client came to my office the other day. He owns half a dozen residential properties that are let out. For personal reasons he wishes to gift these into a company the shares in which will be owned wholly by his (adult) daughter. This did not seem to me the best of ideas taxwise and I did try to dissuade him but he is quite adamant that this is what he wants to do. Before I put the wheels in motion can readers give me some advice on the tax aspects so I am sure that I have covered all bases here?
My first thought was whether there is a stamp duty land tax liability. Presumably there is a potential capital gains tax liability that cannot be held over; are there any other potential liabilities e.g. pre-owned assets tax that I should...

If you or your firm subscribes to Taxation.co.uk, please click the login box below:

If you are not a subscriber but are a registered user or have a free trial, please enter your details in the following boxes:

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.

Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.

back to top icon