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Tax on dividing ownership

Answer
Efskeff
Posted Fri, 20 Sep 2024 10:37:13 GMT by Efskeff
Hi, I bought a flat in the UK in 2006. In 2024, I am dividing ownership of the flat three ways, gifting one third each to two of my daughters, and retaining one third myself. I consider that I am disposing by gift of two-thirds of the asset. Do I do the usual CGT calculation, and report two thirds of the gain and two thirds of the costs?
Answer
HMRC Admin 21 Response
Posted Fri, 27 Sep 2024 11:03:54 GMT by HMRC Admin 21 Response
Hi,
That is correct.
Thank you.

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