Looking for some legal advice and know there are a few legal minds on here. I will be taking full legal assistance eventually but need to get quick advice on a couple of queries.
I am a trustee of a charitable development trust for our village. We don’t have a village hall and have been trying to address this for some years. We have been approached by a private organisation in the village who own an old church building with a view to them ‘gifting’ it to the village. They no longer have the upkeep, we get a village hall and they get use (10 meetings a yr) for free, everybody wins. Should add that this is in Scotland.
I have been looking for precedents online but not found much except to raise a couple of questions :
1. If the property is transferred for, say, a nominal sum would the transfer be liable for any taxation (capital gains tax?) for either party?
2. Similarly would we have to pay the Land Registry/Stamp Duty on the full valuation of the property?
I would appreciate any advice. TIA.