Spouse doing green cert?

dottybows

Hi all,

So my partner has taken over the family farm and leasing the land. A few years ago he was speaking to someone about the green cert. As he is over 40 he will have to pay the inheritance tax when his father is signing the land over. If he was under 35 and had the Green cert he wouldn't have to pay the full rate,am I right?
So as I am well under 35, this person said that I could do the green cert and he would then not have to pay the full amount of tax? Is this possible? I'm guessing we'd have to be married?

Thanks for your help in advance!

Dotty

Green&Red

dottybows wrote: »

Hi all,

So my partner has taken over the family farm and leasing the land. A few years ago he was speaking to someone about the green cert. As he is over 40 he will have to pay the inheritance tax when his father is signing the land over. If he was under 35 and had the Green cert he wouldn't have to pay the full rate,am I right?
So as I am well under 35, this person said that I could do the green cert and he would then not have to pay the full amount of tax? Is this possible? I'm guessing we'd have to be married?

Thanks for your help in advance!

Dotty

I doubt that's true, I have a feeling that it's father to son, uncle to preferred nephew/niece

conditioned games

Green&Red wrote: »

I doubt that's true, I have a feeling that it's father to son, uncle to preferred nephew/niece

Need to be blood relation and only stamp duty can be avoided

dottybows

Hmm. But it's his father signing it over to him. So they are blood relations. It's just the requirement of the green cert that would be in my name.
Don't get me wrong, I really don't fancy doing it but if it helps financially it would benefit us all.

I'll tell him to go back to talk to the person who said it to him in teagasc or speak to his agricultural advisor.

Thank you :-)

Mooooo

Talk to an accountant anything tax related they are better

mayota

dottybows wrote: »

Hi all,

So my partner has taken over the family farm and leasing the land. A few years ago he was speaking to someone about the green cert. As he is over 40 he will have to pay the inheritance tax when his father is signing the land over. If he was under 35 and had the Green cert he wouldn't have to pay the full rate,am I right?
So as I am well under 35, this person said that I could do the green cert and he would then not have to pay the full amount of tax? Is this possible? I'm guessing we'd have to be married?

Thanks for your help in advance!

Dotty

Won't he still qualify for agricultural relief and just have to pay the stamp duty which is 1% ?

Green&Red

mayota wrote: »

Won't he still qualify for agricultural relief and just have to pay the stamp duty which is 1% ?

This is true I think but it's more than 1%