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Capital Gains tax on gifting a percentage of 2nd property

Answer
LindyLou58 Peters
Posted Mon, 02 Dec 2024 14:06:30 GMT by LindyLou58 Peters
I have a 2nd property which I inherited, and I am considering gifting a percentage of it to my adult daughter. Her marriage is insecure, so I do not wish to gift it all to her. How do I work out the Capital Gains Tax? Also, she would pay the CGT as I don't have any funds to pay it, does this matter?
Answer
HMRC Admin 19 Response
Posted Fri, 06 Dec 2024 11:52:22 GMT by HMRC Admin 19 Response
Hi,
You would take the value at the time you inherited it and the value now and that is your gain. You would then take the percentage that you are gifting to see what your taxable gain is.
If she is happy to pay the tax on the gain, that is fine.
Thank you.

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