Roger Sykes
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CGT on transfer of FHL business for nil consideration
My wife an I owned a FHL property which qualifies for Business asset disposal relief which we have recently transferred to our children for nil consideration. We do not wish to claim hold over relief preferring to pay the 10% tax on the gain now. Is this allowed and if so do my wife and I each complete the CGT summary form setting out half the the value of the asset at the time of disposal and half the allowable costs.