Jon Evans

𝗛𝗼𝘄 𝘁𝗼 𝗚𝗶𝗳𝘁 𝗣𝗿𝗼𝗽𝗲𝗿𝘁𝘆 𝗪𝗶𝘁𝗵 𝗠𝗶𝗻𝗶𝗺𝗮𝗹 𝗜𝗻𝗵𝗲𝗿𝗶𝘁𝗮𝗻𝗰𝗲 𝗧𝗮𝘅 Thinking of gifting property to your children or other family members? 1. It’s not just a matter of transferring ownership - there are tax implications you MUST understand. Especially around Inheritance Tax (IHT). Here’s where the 7-Year Rule and Potentially Exempt Transfers (PETs) come in 👇 ✔ 𝗪𝗵𝗮𝘁 𝗶𝘀 𝗣𝗼𝘁𝗲𝗻𝘁𝗶𝗮𝗹𝗹𝘆 𝗘𝘅𝗲𝗺𝗽𝘁 𝗧𝗿𝗮𝗻𝘀𝗳𝗲𝗿 (𝗣𝗘𝗧) ? A PET is a gift that may become exempt from IHT, if you survive 7 years after making it. This includes gifts of property (either entire or part ownership) given to individuals - not to trusts or companies. ✔ 𝗧𝗵𝗲 𝟳-𝗬𝗲𝗮𝗿 𝗥𝘂𝗹𝗲: 𝗧𝗶𝗺𝗲 𝗠𝗮𝗸𝗲𝘀 𝗧𝗵𝗲 𝗧𝗮𝘅 𝗙𝗮𝗱𝗲 If you gift a property and live for: ↳ Less than 3 years = Up to 40% IHT ↳ 3–7 years = Taper relief applies (gradually reduces IHT) ↳ 7+ years = No IHT on the gift (completely exempt) However, the gift may still trigger Capital Gains Tax (CGT) at the time of the transfer, even if no cash is exchanged. ✔ ️ 𝗪𝗵𝗮𝘁 𝗜𝗳 𝗬𝗼𝘂 𝗦𝘁𝗶𝗹𝗹 𝗟𝗶𝘃𝗲 𝗶𝗻 𝘁𝗵𝗲 𝗣𝗿𝗼𝗽𝗲𝗿𝘁𝘆? (𝗚𝗶𝗳𝘁 𝗪𝗶𝘁𝗵 𝗥𝗲𝘀𝗲𝗿𝘃𝗮𝘁𝗶𝗼𝗻 𝗼𝗳 𝗕𝗲𝗻𝗲𝗳𝗶𝘁) If you give away a property but still live in it rent-free, HMRC can treat it as if it’s still part of your estate. To make the gift effective for IHT, you must pay market rent to the new owner or vacate the property entirely. ✔ 𝗥𝗲𝗰𝗼𝗿𝗱-𝗞𝗲𝗲𝗽𝗶𝗻𝗴 𝗜𝘀 𝗖𝗿𝘂𝗰𝗶𝗮𝗹 HMRC may review these gifts years later. Clear documentation, valuations, and timelines are essential to prove the PET and avoid future disputes. 𝗪𝗵𝘆 𝗣𝗹𝗮𝗻 𝗘𝗮𝗿𝗹𝘆? Property values are high, and many estates creep above the IHT threshold quickly. Gifting early - strategically - can reduce your estate’s tax burden and ensure more of your wealth passes on to loved ones. 📅 Need help gifting property without paying more than you need to? 💻 If you’re unsure what HMRC expects from you under MTD, join me on the free webinar on September 4th - I’ll make it simple for you. DM me to register today! 💬 Have you thought about using the 7-Year Rule for your property gifts? 👤 Follow me, Usman Butt, for real-world tax strategies UK landlords can actually use.

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As expected, the high court have now appointed an administrator to the R&D advisor Counting King. As seems to be normal, those behind Counting King started another R&D advisory company earlier this year, called Orbit Tax Incentives Limited, and now appear to be trading via this. It's unknown if Counting King will be providing support to clients during their administration, but if not any with an open compliance check may need to seek assistance from a different advisor.

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How do we make pensions sound simple? By actually keeping them simple.🙌 That’s exactly why I wanted to share this short video! If you're running a business, there are three key areas to get right when it comes to workplace pensions: ✅Your duty start date – when your responsibilities begin. ✅Setting up and enrolling your team – getting everything in place smoothly. ✅Ongoing compliance – staying on the right side of the law. Get these right, and you’re flying!🚀 If you’d rather not carry that stress yourself, I’m happy to help take it off your plate. Just pop me a message.

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