Transferring the land now, at agricultural value without pp, keeping it below the gift tax threshold is legal.
OurFella : If that is the case then revenue will never again get Gift Tax for the transfer of "a site" between brothers, uncles and nephews etc. All these people have to do is transfer a plot of land at agricultural rate (possibly 8-15K) per acre Staying below the GT threshold instead of anything from 100-200K per acre site value. That could mean a loss of anything up to 32K Gift Tax and also a loss of possibly up to 39K CGT. I can't see Revenue going for that.
If they do accept that then what are my chances getting back money from Revenue having paid taxes on the transfer of a site from my brother instead of a plot of land without PP?
OurFella : If that is the case then revenue will never again get Gift Tax for the transfer of "a site" between brothers, uncles and nephews etc. All these people have to do is transfer a plot of land at agricultural rate (possibly 8-15K) per acre Staying below the GT threshold instead of anything from 100-200K per acre site value. That could mean a loss of anything up to 32K Gift Tax and also a loss of possibly up to 39K CGT. I can't see Revenue going for that.
If they do accept that then what are my chances getting back money from Revenue having paid taxes on the transfer of a site from my brother instead of a plot of land without PP?