CGT For Property Transfer to Sibling

Person A filed for a divorce and tried to protect their only asset (house, their partner moved into). They asked a sibling to take temporary ownership who also helped pay off a small mortgage (approx. £13K). Both parties agreed that ownership would be transferred back to person A upon request who still lived in the house, paid for all bills, renovations, costs etc. Their accountant has advised that this is in effect a bare or simple trust therefore no CGT is applicable upon return. Is this correct?

@HMRC , any updates ref this?

Hi ,
 

We can only provide general information / guidance in this forum.  For an answer to a detailed question of this nature, you would need to contact our self assessment helpline on 0300 200 3310, or seek professional advice.  Thank you .