Capital Gains advice

I purchased a property in 2008 . My sister helped me buy it as I didn't have quite enough money . Both names were put on the property and mortgage . My sister has never lived there and I repaid her the money she gave me . Unfortunately , my sister got very ill and even though we sought advice about removing her name from the ownership , with never proceeded as her illness occupied our focus . Obviously we should have removed her name years sooner but her illness made things difficult . The problems we have is we will have to pay CGT if we sell , when I have been the only one living there , my sister has always had her own property . This is my main residence and that is hers . Obviously we should have removed the name a lot sooner , but her illness forced this onto the back burner . We have sought some legal advice , who told us the fact we have a letter showing we did approach a solicitor with intention to do this does help us . I would welcome any advice . Thank you

Hi,

You can see guidance below which confirms that capital gains is chargeable on beneficial owners of property.

CG10720 - Persons chargeable: beneficial owner

You can see information regarding Private Residence Relief here:

Private Residence Relief (Self Assessment helpsheet HS283)

If you have lived in the property for the full period of ownership and this is your only home then any capital gain on disposal will be covered by Private Residence Relief. As your sister has never lived in the property then she could be liable to pay Capital Gains Tax.

Thank you.