Hi
My main residence is unencumbered. I am thinking ahead (with the thought of the 7 year rule on inheritance tax).
If I gift my son 50% of my property now - would I still be OK to live in the house?
Would there be any immediate tax consequences of gifting him 50% now? My son is nearly 21.
Many thanks
Claymore
My main residence is unencumbered. I am thinking ahead (with the thought of the 7 year rule on inheritance tax).
If I gift my son 50% of my property now - would I still be OK to live in the house?
Would there be any immediate tax consequences of gifting him 50% now? My son is nearly 21.
Many thanks
Claymore
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