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Who pays CGT

Answer
asmyth74
Posted Wed, 04 Sep 2024 02:07:13 GMT by asmyth74
I am thinking about gifting a property to my son I bought it for£40,000 and it is now worth £16000 Does CGT need to be paid by me or him
Answer
HMRC Admin 32 Response
Posted Thu, 12 Sep 2024 09:14:02 GMT by HMRC Admin 32 Response
Hi,
It will be you if this has not been your only or main residence for the whole period of ownership.
Thank you.

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