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property transfer as a lifetime gift

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derekgr | 16:12 Fri 08th Oct 2004 | Business & Finance
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is it possible to transfer a property i currently own to my daughter as a lifetime gift and can she sell it immediately without any tax implications
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Avatar Image johnjbloomfi
depends on your own tax situation and hers and there may still be a liability to IHT if you die within seven years and you may still be liable to CGT on the transfer based on market value even if it is a gift Speak to an IFA
16:55 Fri 08th Oct 2004
Avatar Image Hgrove
If you mean real property and your daughter is under 18, you may not transfer it to her.
19:56 Fri 08th Oct 2004
Avatar Image Sludge
You might find a browse through this link helpful http://www.inlandrevenue.gov.uk/leaflets/iht2.htm#c
22:36 Fri 08th Oct 2004

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