What family decision is approaching?
Perhaps you want to review an estate, help a family member or understand a proposed gift. Describe the purpose before looking for a tax answer. A plan needs to reflect what you want to achieve as well as the relevant tax position.
Map assets and ownership
List the assets, liabilities, ownership and any significant past gifts. Property and business interests may need additional information. Keep values and their dates clear so an adviser can distinguish an estimate from an established figure.
property capital gains taxExplore timing and tax consequences
The implications of a gift or transfer depend on the circumstances and timing. A single rule of thumb cannot settle every case. Discuss the proposed action before it is completed and identify any linked income or capital gains questions.
Coordinate the next professional steps
Tax planning may need to sit alongside a solicitor’s work on wills or other legal arrangements. Financial product advice is a separate matter. A consultation can establish the questions you need answered and where additional professional input is appropriate.
business exit planningYour questions, answered.
Can I ask about a gift made already?
Yes. Provide the date, asset, value and recipient details so the past transaction can be considered in context.
Does owning a business affect the discussion?
It can add further ownership and valuation questions. Bring details of the business interest rather than assuming a particular relief applies.
Will I also need a solicitor?
Legal documents and arrangements may require a solicitor. Tax advice does not replace that work.