Getting on the property ladder is becoming a harder task for the youth of today, even high net worth millennials, who have acquired their large sums of wealth. Most millennials are turning to the bank of mum and dad to help them purchase their first property. Stuart Goodbody, partner and head of trust management, and Sarah Nettleship, associate in the private client team at law firm Thomson Snell and Passmore have written this article discussing the tax implications that high net worth families may have helping out their children and grandchildren to get on the property ladder.
The plight of millennials and generation Z being unable to buy their own houses is a hot topic in the media at the moment. But whether or not younger generations in the UK really are unable to buy properties due to their penchant for avocado on toast or not, a great number are struggling to get on the housing ladder...
Read the full article here: How to have your Avocado and eat it (With the help of Mum and Dad)
