Families who run local businesses are recommended to transfer the property assets from “father to son” now to reduce their tax burden.
Inheritance Tax (IHT) applies when any property is transferred to one’s children. Marcus Andrews, Chartered Surveyor at Goadsby, suggests making the transfer at an early date as the tax is less if the parent survives for several years before “death”. Thus there is a potential saving to be made.
Goadsby have undertaken a number of valuations recently to help local businesses (and landlords as property owners) mitigate their tax burden. He says, “IHT will be based on today’s values even if no money is changing hands and an arm’s length valuation by one of Goadsby Registered Valuers can set a fair sum for Tax”.
If you require valuation help with your “Inheritance Tax Transfers" speak to Marcus Andrews FRICS at Goadsby who can help you.
.
Goadsby Commercial are delighted to announce the successful sale of the former Monay premises at 43 Charminster Road to Anwar Chowdhury.
Acting on behalf of a private client, Goadsby has submitted applications for Certificates of Lawfulness of Proposed Use or Development for two cottages at Moortown Drive, Canford Magna.
Goadsby have, on behalf of a private vendor, sold 996-996A Wimborne Road which is a freehold commercial and residential investment located in a densely populated suburb of Bournemouth.