To give this blog a more complete title we should call it, Gifting money to children – Don’t do this. We will look at a recent case on this. The beauty of the case is that it gives a good idea of the basics of CAT. Plus, a lesson in what not to do. CAT
We’ll look at what’s involved tax-wise on the transfer of a site to a child. The idea for this came from a meeting I had with the Falcones during the week. John Falcone is the dad. Bridget Falcone is the mother and owns the land. Molly Falcone is the daughter. Points to cover will include
In the last month, I had 3 meetings where the inheritance of farmland was the main concern. The parcels of land were more than 80 acres in all cases. Assuming a value of between €10,000 and €15,000 an acre the figures are high. So, Agricultural relief is vital for you to check out. This week
Last week we spoke about Ludmila in our office and how she’s the lady to get your tax return right first time. This week we will look at gifting money to children. What to do and what not to do. The idea for this came from a client query whose son is getting married soon.
