Transfer of Assets to Next of Kin

If, for example, you are considering transferring a property from your company to yourself as the principal shareholder, the transfer price must be fixed at market value.

As a general rule, the most recently published property valuation can be used as a guideline, but if you want to be certain that SKAT agrees that the transfer price corresponds to market value at the time of the transfer, it is a good idea to obtain a binding assessment notice from SKAT before the transfer.

It is possible to transfer real property between family members at the most recently published property valuation +/-15%. However, this applies only to close family members, for example from father to son, or from grandfather to grandchild, but not between siblings.

If the public property valuation does not represent a fair value, for example due to the conversion or modernisation of the property in question, it is not possible to use the +/-15% margin. In connection with transactions between family members, it may therefore be a good idea to ask SKAT to supply a binding assessment notice before proceeding.

Other assets that are to be transferred between next of kin, which may be anything from cars to jewelry or art etc., must be valued at market value at the time of the transfer.

If SKAT subsequently finds that the transaction was not carried out on market terms, we can help you assess whether there is a basis for appealing against SKAT's decision.

In connection with a subsequent appeal, it will often be necessary to arrange an expert appraisal of the market value of the asset. We have many years of experience in handling such appraisals.

Contact

Torben Bagge

Partner, Attorney-at-Law (H), Head of tax and Chairman of the board

D: +45 87 34 75 30

M: +45 24 82 24 84

E: tb@tvc.dk

Leo Jantzen

Manager, Partner, Attorney-at-Law (H)

D: +45 87 34 75 31

M: +45 21 37 01 38

E: lj@tvc.dk

Kasper Bech Pilgaard

Partner, Attorney-at-Law (L), LL.M.

D: +45 33 18 61 58

M: +45 24 27 78 11

E: kbp@tvc.dk

René Bjerre

Partner, Attorney-at-Law (H)

D: +45 87 34 74 34

M: +45 25 34 53 10

E: rbj@tvc.dk

Henrik Rahbek

Partner, Attorney-at-Law (H), HD (R)

D: +45 87 34 74 32

M: +45 30 88 20 88

E: her@tvc.dk

Karin Østergård Mathiasen

Partner, Attorney-at-Law (H)

D: +45 87 34 74 31

M: +45 30 33 75 80

E: kl@tvc.dk

Kasper Kelm Demant

Partner, Attorney-at-Law (L)

D: +45 87 34 74 36

M: +45 51 92 53 58

E: kkd@tvc.dk