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Gifted site-CGT

mjj · 2015-02-18 09:22:53

Hi all, Looking for some advice. My boyfriend and I are being gifted a site for his father to build a house. The field that the site is in was gifted to my boyfriends father in November. It was transferred from his mother (boyfriends granny) following probate of her husbands will (boyfriends grandad). So what I am…

18-02-2015 9:22am

#1

mjj

Registered Users, Registered Users 2 Posts: 39 ✭

Join Date: March 2013

Posts: 23

Hi all,
Looking for some advice. My boyfriend and I are being gifted a site for his father to build a house. The field that the site is in was gifted to my boyfriends father in November. It was transferred from his mother (boyfriends granny) following probate of her husbands will (boyfriends grandad). So what I am wondering is will my boyfriends dad have to pay Capital Gains Tax when he gifts hs the site? Would there be a difference in the value between November and now? The paperwork only came back last week. I know from parent to child is exempt but we want to get a joint mortgage so thought it would be better to have both names on the site.
I'm totally new to this so any help or advice would be greatly appreciated!
Thanks!

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