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Gifting a UK property to a child who lives overseas

Answer
themunchkins
Posted Wed, 13 Nov 2024 11:38:06 GMT by themunchkins
I am a UK resident owning a property jointly with my sister. Neither myself or my sister live in the property. We would like to gift the property to my adult son who currently working overseas and is not a UK tax payer. Would he be liable for capital gains tax
Answer
HMRC Admin 20 Response
Posted Fri, 15 Nov 2024 14:11:59 GMT by HMRC Admin 20 Response
Hi,
Yes as it is seen as a disposal as it is not your main residence.
Thank you.
 

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