Inheritance Tax

Maxim

I would really appreciate some advice on the below... I think this tax effects absolutely everyone and so i'm sure some here have a solution for it:-

-My family own a number of properties throughout the UK and some abroad.
-We have built up a property portfolio over the last 20 years where by most assets are rented as flats on ASTs.
The properties are individually owned/ held by either my father or mother or both jointly.
-The gearing is approx 50%.

*Can anyone recommend a tax specialist (or a solution) that does a proper job but doesn’t charge an arm and leg (ie fixed costs) to do so.

*I seem to think the only solution would be the 7 year transfer rule to children and or the use of a discretionary trust. What are the downsides to using a discretionary trust ?

Sorry about all the questions but if someone could just point me in the right direction i would really appreciate it... Many thanks in advance

Maxim Cowley

chappers

apart from maybe the seven year rule or declaring a house in turn your primary residence for the required time and slowley disposing of the assets can't really help you.

Is Maxim Cowley your real name you sound like you should be a spy or something.

Maxim

yeah i used to get a bit of grief at school for it !

CLAPTON

bear in mind that if your parents give the properties to their children they will have to pay capital gains tax based on the value at the time of 'disposal'.