gifts for her $100 image
Hi all. I am asking this question on behalf of my friend. She is married to a UK national. They both live in UK. Her husband wants to gift 100% shares of his business to her. She wants to know what will be her husband's rights once the gift has been made and if there will be any tax liabilities. Thanks.
Answer
No gift tax in the UK and no Capital Gains Tax due on transfers between spouses.
No gift tax in the UK and no Capital Gains Tax due on transfers between spouses.
Can I avoid the gift tax by giving small gifts to ten people and telling them to give the money to one person?
Q. I want to give a large gift to person X. It seems easy to avoid the gift tax by giving small tax-free gifts to 100 people, paying each of them a small share of the tax savings, and leaving it understood with them that they should give the gift to person X. Assuming I trust these 100 people to pass the gift on to person X, is this legal? Thanks!
Answer
Reality rules here. Go for the obvious.
Reality rules here. Go for the obvious.
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