The donee must still own the shares when Gerald dies (or must have pre-deceased Gerald whilst still owning the shares). The shares must still qualify for BPR when Gerald dies, or when the donee dies if earlier. Gift holdover relief (CGT) The...
If a relative or friend dies and you’re gifted an item, the tax applied will be done so via Inheritance Tax (paid by the deceased’s estate). Thirdly, you wouldn’t pay any Capital Gains Tax on assets or gains made from: ISAs or PEPs UK government gilts and Premium Bonds Betting, ...
Estate taxes:Estate taxes are a tax on the right to transfer property at the time of someone’s death. Estate taxes are applied to the deceased person’s gross estate—or the total amount of assets they transferred to an heir, like money and property. Inheritance taxes:Inheritance taxes are...
The donee must still own the shares when Gerald dies (or must have pre-deceased Gerald whilst still owning the shares). The shares must still qualify for BPR when Gerald dies, or when the donee dies if earlier. Gift holdover relief (CGT)...