emrsw01
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CGT payable on land gifted to children
I own a small piece of grazing land that i wish to gift jointly to my 2 children rather than leave it as part of my Estate and then pay Inheritance tax on it. Value of my property and assets currently exceeds the amount i can leave free of IHT. If i arrange a deed of gift with a solicitor what are the CGT implications for my children or is there another way to pass on the title without having to pay CGT?