Captial gains on gifting property

I am a part owner of two properties in the Czech repulic and I am a UK tax payer and resident. New question: I own 50% of two apartments in the Czech republic, The other owner and I want to do different things with the apartments and as such we want each to effectively take 100% ownership of an appartment. If we sign each other the remaining 50% of one of the apartments is there any capital gains to pay because we are disposing 50% of an asset or because they are the same value and effectively we still own 100% of one apartment instead of two that its just a legality to gift of transer the halves? Orignal Question 2: If I own 100% of an apartment and want to gift it to a family member who lives in the Czech republic do I need to pay capital gains tax in the UK as I am discharging an asset? or would this fall into an inheritance type rule if I pass away within 7 years of the gifting? Thanks in advance for any advice

Hi Jawood1982

1. yes this would be seen as a sale when disposing of your 50% ownership irrespective of acquiring 100% of the other property  
2. again, this would be seen as a sale. the gift would ponly be exempt if it was given to a spouse/civil partner or a charity

Thank you