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Readers' forum: Moving abroad

26 February 2019
Issue: 4685 / Categories: Forum & Feedback
Company residential property transfer to daughters

Our company client is winding down its trading activity and over the next year will cease trading. The company owns two residential buy-to-let properties.

There is only one director who is also the sole shareholder. The director is considering moving abroad from April 2019 and before leaving the UK he wishes to transfer ownership of the properties to his two daughters (one property to each of them) and then wind up the company.

One of the daughters is currently employed part-time by the company but this will cease in April 2019. Each of the properties has a market value of about £450 000 and each cost about £300 000.

I would welcome readers’ views on several possible scenarios.

  • What is the company’s tax position on the gifts of the properties to the director’s daughters in view of their being connected to the director? And can further guidance be provided on the figures?
  • Should consideration...

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