I recently purchased a field to sell off 6 individual plots. I'm now selling these plots off now for 25,000 to 35,000. I want to give one of the plots away to my son at a reduced rate. How would I go about it to pay as little tax as possible? I paid 130,000 for the field. thanks
1 Answers
Be the first to answer
Do you want to answer this question? You need to be signed in for this feature
Be the first to ask a question
{{ question.answerCount }} Answers
Copyright © lovemoney.com All rights reserved.
loveMONEY.com is a company registered in England & Wales (Company Number: 7406028) with its registered address at First Floor Ridgeland House, 15 Carfax, Horsham, West Sussex, RH12 1DY, United Kingdom.
Our company maintains relationships with various affiliates and lenders, which we may promote within our editorial content in emails and on featured partner pages through affiliate links. Please note, that we may receive commission payments from some of the product and service providers featured on our website. In line with Consumer Duty regulations, we assess our partners to ensure they offer fair value, are transparent, and cater to the needs of all customers, including vulnerable groups. We continuously review our practices to ensure compliance with these standards.
While we make every effort to ensure the accuracy and currency of our editorial content, users should independently verify information with their chosen product or service provider. This can be done by reviewing the product landing page information and the terms and conditions associated with the product. If you are uncertain whether a product is suitable, we strongly recommend seeking advice from a regulated independent financial advisor before applying for the products.
10 November 2010