Are there any tax implications if I gift land to my son?

Smallfield.jpg

I own a small field worth around £25,000.

I own a small field worth around £25,000. Am I able to give the land to my son? Would there be any tax implications?

FF/West Hythe

"A gift of land or property is liable for capital gains tax just the same as if you had sold it.The base cost of the land will be deducted from the market value to assess the capital gain.

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Source Moneywise http://ift.tt/1L8q1rF