Transfer of Property

stumac1980

Currently my father has 2 properties plus his own home and is looking to move these into his property business that he has set up a number of years ago. He wants to move these properties into the property business and also add myself and my sister as the directors of the company and remove himself from the business.


How would he go about doing this and also what tax implications would this cause for all 3 parties.

Keep_pedalling

This would be better off asked in the house buying and renting forum. There would almost certainly be a capital gains tax issue for him on doing this, and he should not even contemplate doing such a thing without taking professional advice.

Yorkshireman99

stumac1980 wrote: »

Currently my father has 2 properties plus his own home and is looking to move these into his property business that he has set up a number of years ago. He wants to move these properties into the property business and also add myself and my sister as the directors of the company and remove himself from the business.


How would he go about doing this and also what tax implications would this cause for all 3 parties.

All three of you need paid for professional advice of the legal and tax implications. It would be foolish to rely on advice from here as nobody has seen all the detail.