Lee Sharpe continues his series of articles on transferring property down to the next generation.
In the first two articles, we looked at some of the key tax aspects of transferring property owned directly. In this third and final article, I’ll look at how things change under corporate ownership.
Practically speaking, using a company as the ‘wrapper’ for their property portfolio should make it much easier for the landlord to manage the transfer of wealth to their children, usually by way of gifts in small stages over a number of years. This should, in turn, mean that the landlord (and potentially their spouse or civil partner) can make the best and repeated use of their annual capital gains tax (CGT) exemptions, inheritance tax (IHT) nil-rate bands, etc.
What do YOU own?
A company has its own separate legal identity; so even if I own 100%
