Land

[dumphuq]

My father in law has a piece of land which he wishes to give to my wife and her sister.
To avoid paying capital gains tax, would it be possible for him to sell it to them for a token sum by normal conveyancing.

[themas]

He can give it away or sell it at an undervalue. But whatever he does, it will be valued at its proper market price in determining any liability to CGT. He also needs to be aware of Stamp Duty Land Tax.