Alice Johnson presents some key points when advising your clients on gifting property

It’s a time of year when we all think about gifts, but when clients consider making gifts of property to family and friends, there are a number of important complications to consider. For private client solicitors, one of our most important and impactful practice areas all year-round is advising our clients on gifts to their family and friends.

Gifting at Christmas, for birthdays or other celebrations is traditional, cultural, or just a part of human kindness and generally we don’t think about tax. Indeed, many people will make gifts of property, investments or other assets without taking advice from a solicitor, but this can lead to unintended consequences. Gifts of property in particular carry a number of tax implicat...

This article is part of a subscription-based access, to continue reading, please contact your library