Hi all, I've searched for the answer but didn't get far, and would be grateful for any insight that can be given. The following is anonymised.
A beneficiary wishes to gift their share of an estate to a charity. They wish to design the gift to make it as effective for the charity as possible and get the most out of the tax system.
A deceased has left a sizeable farm to a number of beneficiaries. The executors are selling the farm to property developers during the administration of the estate. A gain arises on the farm. CGT is being reported and paid over to HMRC by the executors following disposal of the farm. The beneficiaries will receive two cash payments, one in 2019 and one in 2020.
The question is: if the beneficiary gifts the cash they receive to charity, can the CGT be reclaimed by the charity via the gift aid system ? Any explanation much appreciated.
There is probably no prospect of redirecting their interest directly to charity under a deed of variation, unless this would make a difference to the above.
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