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Where Taxpayers and Advisers Meet

property business iht

riccardob
Posts:130
Joined:Sun May 29, 2011 10:02 am
property business iht

Postby riccardob » Sat Jul 09, 2011 7:32 pm

Hello,

If a parents gifts some money to a son who is setting up a small property business (ie. buying and letting out a couple of houses) would this money be subject to IHT should the donor pass away before the seven years have expired.

The property company would be a LTD company.

Regards,

mullet
Posts:3242
Joined:Fri Nov 06, 2009 9:26 am

Re: property business iht

Postby mullet » Sat Jul 09, 2011 9:57 pm

Yes.

Peter D
Posts:10668
Joined:Wed Aug 06, 2008 3:37 pm

Re: property business iht

Postby Peter D » Sun Jul 10, 2011 10:50 am

I hope your Son has taken professional advice on owning the properties within a Ltd company and that he has a long term business plan. Regards Peter


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