Inheritance and Capital Gains tax

Hello. I'm married 20 years to my husband. We own a home, no mortgage, and about 70 acres of land . We have two boys, 12 and 10. We were told by a solicitor that adding my name to the land when I am not registered as a farmer will make it very difficult for our children when they inherit the land, that they would be required to pay more capital gains tax because of me not bring a farmer. Is this accurate? I have made an appointment with another solicitor but would appreciate any help with this as I have 2 friends who were in the same pos, not farmers and with children who managed to put their name on the deed without this being an issue.

You will need some specialist advice here - complicated to say the least.

The tax on inheritance is called CAT, not CGT.

There are agricultural reliefs from CAT, yes, you should read about them.

Yes, I understand that they can inherit up to 400,000 without paying tax but will need to pay 33% on anything over that.

lisaskingston said:

Yes, I understand that they can inherit up to 400,000 without paying tax but will need to pay 33% on anything over that.

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That's the standard group A CAT exemption threshold:
Agricultural relief is a separate issue: