Gifted site

[Shamrock]

Hi guys, have been searching through forums regarding transfer of site from parent to child and came across post which had answered a few of my queries. (Sorry not allowed to post links)

Does anyone know at what stage site needs to be gifted? Planning application should be going in within next 2 months from the architect, so just wondering does it need to be done before application or before commencement of building work (if planning approved). Any information would be great, cheers.

 

[Brigid]

Check out any tax or stamp duty implications if the site is transferred prior to planning permission being obtained. the value of a site will probably increase if planning permission is granted, unless it has so many conditions that you woudl be the only person who could have obtained planning permission. also consider the situation if the site is transferred and you dont get planning permission. I think that it can be gifted either before or after planning permission is obtained but you shoudl keep an eye on tax implications.