Family wealth

[ppbb]

My father has a business ( self employed ) and he owns a number of houses which he would like to pass on to the rest of us sons and daughters.
Would we be subject to any taxes if he transfers these now or what is the best way to go about this?
Any advice welcome.

 

[Sherman]

Go to a qualified tax advisor/accountant rather than solely relying on advice given on the internet. AAM and other sites are great sources of info but to make absolutely sure you really need to employ a professional's advice, particularly if there's a lot of money involved.

 

[ppbb]

Thanks for that.
It makes complete sense to do just that.

 

[Marie]

I'm not a solicitor or expert but have recent experience of inheritance. If the portions of your father's estate willed to each child is under a certain value there will be no CGT anyway (the exact amounts are on the Revenue website).