Site Transfer - son/daughter in law

[macca123]

Hi folks,

Wondering if someone can help. Myself and my boyfriend recently got full planning permission on his dads land, (planning is in his name only)

I was talking to his father and he said that his other son had now applied for planning on another site under both 'the son & his wife's ' name. His Dad was wondering how does that effect the 'tax' situation. He thinks they'll have to pay more than us when signing over the sites, as my boyfriend's site will be in one name only, and their's will have be in two.

I said, there is a threshold ( which the site is valued under this ). He thinks their threshold will be reduced, as 'the gift' will be going to a married couple. ... And he'll have to pay more in tax. His he right??

 

[Capall]

SITE TRANSFER

There is a stamp duty and cgt exemption available
on a site transfer to a child for the building of the child's principal private residence if the market value of the site is not greater than 254000.
This relief is not available on the transfer of a site to
a son or daughter in law.