I have a flat which I have owned for many years and which I have
always rented out. If I sold it now I would have to pay around
£37,000 CGT. This I could afford and I would now like put the flat
into a trust for my 18 year old daughter but I want to crystallise the
CGT liability at the time the trust is set up - rather than load her
with a huge CGT liability in the future which she might ill afford.
Hopefully she can receive the rental income from the day when the
trust is set up. Later she would move into it as her PPR.
Hopefully also, as this would be a P.E.T., no 20% front end tax would
be levied on the trust.
Hopefully also no SDLT would be payable on this transfer.
Lots of hopefulls there but is this feasible?
- posted 13 years ago