I am in the process of selling a discretionary trust property for £485K, which will have a gain of around £200K, since set up in November 2012.
I am looking to buy another property for around £520K.
What is the best way, as I have read that I can apply for hold over relief please.
I believe that the new property can be jointly owned by the trust and a non beneficiary.
Also who applies for the hold over relief and can the property be owned by a beneficiary or would that mean that CGT is paid?
Is there a way to remove the funds, roll over the gain and close the trust to avoid the 10 year anniversary charge?
Thanks in anticipation for answers.
Darren
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