CGT on Furnished Holiday Let

Mr and Mrs X bought a house in 2002 for £190,000 under a Tenants in Common title deed. The property is used as a second home for 15y then latterly as a furnished holiday let. Mr X dies and leaves his share of the property to their daughter. Mrs X and her daughter decide to sell the property , which is not their primary residence. They sell the property for £490,000 and her daughter takes half £245,000. This is below the IHT threshold. Is Mrs X’s capital gain £245,000 minus £190,000 or £490,000 minus £245,000 or half of £490,000 minus £245,000? Is the daughter liable to CGT of IHT?

Hi DougBT Walker,
If you’re tenants in common, each owner has a distinct share in the property, which doesn’t automatically go to the surviving owner.
Instead, the deceased’s share will be distributed according to their will or the rules of intestacy if there’s no will.  
As the deceased's share of the property was bequeathed to the daughter, the deceased's estate would be liable to capital gains tax on his share of the market value up to the date of death, minus his share of the acquisition costs and the daughter liable to capital gains from the date of inheritance to the date of disposal.  
Mrs X would be liable to capital gains based on her share of the acquistion cost and her share of the disposal value.  There would be 3 capital gains calculations.
Thank you.