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Where Taxpayers and Advisers Meet

Gift to minor living in UK

pjbp
Posts:24
Joined:Wed Aug 06, 2008 3:50 pm
Gift to minor living in UK

Postby pjbp » Mon Jan 14, 2019 4:06 pm

My situation;

I am since two and a half year a non residence in UK for i work and live in Qatar. I used to be a non dom resident from april 2000 till july 2015. I am dutch National with dutch passport.

I would like to buy a property in Belgium via a dutch STAK (Stichting Administratie kantoor) (foundation trust) and certify the property and give the “certificaten” as a gift to my 12 year daughter who lives in the UK since 2009 and has a dutch passport as well.

My question is are there any tax implications in the UK? Will she have to pay any tax on the gift? Will there be any income tax for her? Will she have to file a tax return? Is there anything which i should be aware of?

Any professional feedback would be highly appreciated.

AGoodman
Posts:1738
Joined:Fri May 16, 2014 3:47 pm

Re: Gift to minor living in UK

Postby AGoodman » Tue Jan 15, 2019 5:56 pm

No gift tax.
Any income she receives should be treated as yours for all UK income tax purposes so escape UK tax while you are non-resident.

The full treatment depends on whether it is treated as a trust or company. That would require a full analysis of the legal entity and its constitution.

pjbp
Posts:24
Joined:Wed Aug 06, 2008 3:50 pm

Re: Gift to minor living in UK

Postby pjbp » Wed Jan 16, 2019 12:20 pm

Clear answer thank you!

What are (in short) the tax implications in UK if treated as a trust?

When does a non dom minor becomes domiceled? Will that be age related or depending on years spend in UK?


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