I would welcome some guidance on the above subject matter please.
The scenario is that I am looking to appropriate land to three children from mother’s estate which on disposal will have a net gain of circa £85K. It was my understanding that part appropriation of land was possible, so that each child could be given a 1/4 share and the final 1/4 share retained in the estate and sold by the Executors, thus utilizing up-to 4 CGT allowances. I know that this was possible when I worked for a Charity many moons ago and the beneficiaries were a mixture of exempt and non-exempt. However, I have read something which implies that this position may no longer be accepted by HMRC although I have not found anything definitive to substantiate this.
Any thoughts or experience with this would be much appreciated.
With many thanks