Lydgate23

I thought as much but my tax adviser confused me! Will it depend how much dad gives me (if anything) from the profit?

In 2015 my father bought a house and put myself as joint owner (50/50) as he has promised my mum he would do this before she had passed from a long illness in 2014. Alsolater in 2015 I sold my house and moved in with my partner (now husband). I have never lived at my father’s nor am I named on the deeds at my husband’s house (no mortgage). We are now selling both houses and my husband and I are buying together (small mortgage) and there is an annex for dad to move in to. Dad is making about £120,000 profit on his house. I do not intend to take any monies from this sale (it’s dad’s house as far as I’m concerned) but will I be charged CGT on my ‘half of the profit’ anyway as I’m down as having a 50/50 share? If dad did give me some money from the sale (say £30k to make improvements to the annex or pay it off our mortgage) would I pay CGT on that amount or would it still be charged against my ‘half’ of the profits anyway? I’ve asked my tax adviser and he wasn’t sure due to the fact I’m not on the deeds on my husbands home so he’s not sure if my fathers house would be classed as my principal address as I am on the deeds there. Very confused!