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Client received a gift of a UK apartment on the 2/2/17 located in the UK from her brother. Her brother is resident in the UK. Client is resident in Ireland and liable to gift tax amounting to €92,700. Can she transfer the property back to her brother and avoid the tax liability. Please advise options.

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Posted by (Questions: 13, Answers: 0)
Asked on 24 July 2017 2:59 pm
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If the property is already in her name, then she has received the gift and she is caught.
Could she borrow and buy it from the brother, on the basis that it was always the intention for her to buy the property?
If she paid for the property there is no gift.

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Posted by (Questions: 5, Answers: 5010)
Answered on 27 July 2017 5:43 pm