CGT liability following gifted transfer of equity

My mother and I have lived in our home since it was bought by my parents and my mother inherited sole ownership when my father died. There is no mortgage. We are currently looking to transfer 50% of the equity to me and both of us will continue to live in the house. Will my mother need to pay CGT from outright gifting this share of the property to me ?

Hi,

Gifting an asset, or a share of that asset, to another person, generates a capital gain. If the property was your mother's main residence, from the date she acquired it initially, up to the date that she gifts you 50%, then Private Residence Relief will absorb any capital gain that arises and no tax will be payable. You can see guidance here:

HS283 Private Residence Relief (2024)

Thank you.