I'm thinking of buying a 2nd property. I'm told that Capital Gains Tax (CGT) and Inheritance Tax (IHT) might bite upon eventual transfer or sale. Obviously, I'd like to avoid this if possible.
3 questions:
1. If i haven't yet bought the property is there a way i can legitimately avoid CGT upon eventual sale of the 2nd property that is too be purchased?
2. If that property is to be bought abroad, does it effect anything?
3. I have a 4 month old baby. Is there aything preventing me buying a UK property in the baby's name? Does the answer differ if the 2nd property to be bought is abroad?
4. If the 2nd property has already been bought, can it be transferred into the name of the baby without attracting CGT or other Tax implications?
2006-09-16
01:40:37
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5 answers
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asked by
appw
1
in
United Kingdom