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bigduckontax
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 4184
Experience:  FCCA FCMA CGMA ACIS
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I have equity invested in my name but benefit of my

Customer Question

I have equity invested in my name but for the benefit of my grandchildren(8 of them, value approx £5,000 each). Does this fall within my estate for inheritance tax?
Submitted: 2 years ago.
Category: Tax
Expert:  bigduckontax replied 2 years ago.
Yes indeed it does and furthermore if you dispose of it in the dim and distant future you will be liable to Capital Gains Tax (CGT) on any gain made. I have to tell you of a parent who invested half his son's capital to aid his start up and when he gave his son the share it cost him 39K in CGT, ouch! There is no CGT on death, all assets being aggregated for Inheritance Tax purposes. I am so sorry to have to rain on your parade.
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Expert:  bigduckontax replied 2 years ago.
Thank you for your support.
Expert:  bigduckontax replied 2 years ago.
And also your most generous bonus.
Customer: replied 2 years ago.

What are the benefits of my membership costing ? £20 to£25