Discretionary Trust

Three years ago my son and i sold our properties and purchased one together without requiring a mortgage. We added the house to a Family Trust we had set up to safeguard each other from ever wanting to sell the property without the permission of the other. In hindsight I would never have paid to set one up had i realized the implications of closing one. My son and partner now wish to purchase my share of the property by getting a mortgage. My Solicitor has drawn up an Appointment and Deed of Indemnity making my son the Beneficiary of the property and transfer of the title deeds to be in his name only. My son and partner also have a solicitor who has arranged a mortgage for them and she has drafted a Transfer of Title Deeds in both names. Surely we wont require 2 deeds of transfer.? I know you probably wont be able to advise who is correct on this one but my main question is....will my son or I or indeed both be liable for CGT? I am to buy another property solely in my name and he and his partner will be paying me 50% of what we purchased it for 3 years ago. We have invested approx £30k in the property over the 3 years....kitchen,windows,electrics etc Many thanks in advance

Hi NettH,
Please refer to guidance here:
Trusts and Capital Gains: work out your tax.
Thank you.