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Gifting 50% of 2nd Property

Answer
AkermanKatie
Posted Mon, 09 Sep 2024 13:26:09 GMT by AkermanKatie
We would like to gift 50% of a second property to our son who currently lives there. Can you confirm for CGT that we would then just split the 50% profit made between myself and husband and then pay capital gains tax. Please can you let me know what valuations would be acceptable. Is an Estate Agent enough or RICS? THX
Answer
HMRC Admin 32 Response
Posted Mon, 16 Sep 2024 12:43:45 GMT by HMRC Admin 32 Response
Hi,
That is correct and it would be an estate agent valuation to confirm the market value.
Thank you.

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