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CGT on sale of property

Answer
A C
Posted Wed, 15 May 2024 09:05:46 GMT by A C
Hi my son has owned a property for over 20 years all that time it has been rented out and we mum and dad have had the rent who would be liable to pay any CGT on the sale Thanks
HMRC Admin 25 Response
Posted Fri, 17 May 2024 10:38:12 GMT by HMRC Admin 25 Response
Hi A C,
Your son would normally be liable as he is the legal owner.
However, if there is a deed of trust in place making someone else the beneficial owner, it is they who will be liable for CGT.
Thank you. 


 

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