Deed of Gift

My brother and I swapped properties over 10 years ago, both being of a similar value. Both properties are now mortgage free and we would like to transfer the titles now. What are the tax implications of doing this?

Hi

The transfer of assets, may result in a capital gain arising for both of you.  If the property was you main residence at anytime, then you can claim private residence relief against any gain arising from the swap.  
You will need to have use the calculator at Capital Gains Tax.  
If a gain arises, you will need to report and pay the gain within 60 days of the completion date.  You can do this at the end of the calculator, by moving on to the next screen.  
Private residence relief may also be available.  Have a look at the helpsheet HS283 (HS283 Private Residence Relief (2024)).

Thank you

Not forgetting stamp duty land tax (SDLT). This could be payable despite no money changing hands.