Capital Gains Tax (Transfer of Equity)

Hello, I have a question regarding Capital Gains Tax on UK property. I am a UK citizen domiciled abroad. I co-own a property with my father with a 50/50 share split (joint tenants). The property has no mortgage, was lived in for 3 years and rented to tenants for 15 years. I wish to gift or transfer my share of the property to my father at £0 with nothing received in exchange for the equity. Will this disposal trigger capital gains tax and will I have to pay this tax even though I am doing a transfer of equity at £0 premium with nothing being received? Also can any reliefs be claimed? After the transfer has been done, if capital gains tax is due, when does it have to be filed and paid to HMRC and how is it also calculated. Thank you.

Hi,
Yes as this is not your main home you will be liable for CGT.
Your transfer will be based on the market value of the property, guidance is at:-
Tell HMRC about Capital Gains Tax on UK property or land if you’re not a UK resident
Thank you.