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Posted Tue, 04 Jun 2024 08:49:57 GMT by Ashdeep Sohal
My father is looking gift me some land that is part of his main property's residence. The size of the land is under 0.5 hectares, and the main property meets all the checklist points of the Private Residence Relief. Therefore, am I right to assume my father will not have to pay CGT on this land gift as it falls under PRR?
Posted Thu, 06 Jun 2024 11:16:39 GMT by HMRC Admin 25 Response
Hi Ashdeep Sohal,
If Private Residence Relief covers your father for Capital Gains Tax, then there will be not tax to pay.
You may find that you have Capital Gains Tax to pay if you subsequently dispose of the land.
Thank you. 

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