stamp duty - site

[newlywed]

My dad is signing over a 1 acre site to us. What are the stamp duty implications of this? There is no planning granted on the site as yet - should we value the site at agricultural valuation for stam duty purposs or do you need to wait for planning and declare the value then??

 

[Newby]

There is a relief available on the transfer of a site from a parent to a child [broken link removed] under the "sites" section. It's probably worth talking to a tax advisor to make you sure that you can avail of it. For the sake of a few quid you could save several thousand!