M_123

My wife and I own a rental property. We wish to gift part of the property to our children. We assume we would be liable for CGT on the increase in value of the portion transferred to the children? Would we also need to allocate a portion of the rental profits (matching the proportion of the property transferred) to the children - which would then be treated as their income from an income tax perspective? There is no mortgage on the property. Would there be any Stamp Duty implications associated with this transfer?