Hi all,
I have been lucky enough to be gifted some of my grandparents land. She used to run a commercial business at the side of her house which is sat on a 4 acre plot. The tea room from the business is still there (brownfield land) although derelict and it has its own access private to my grandparents.
I have done some research and i believe it would be better in the respect of inheritance tax, should I have to pay it that the strip of land that she will gift me gets transferred ASAP before I start applying for planning permission (as this will increase the value of the gift should I have to pay inheritance tax on it)
I am just wondering when I should get the planning consultant on board and how I would go about a self build mortgage, should I get planning approved, as I already have a bit of cash for a deposit and the equity (the land that has been gifted) unsure how this would work!
Any advice appreciated!