PhilipL22 L

Thank you very much for the answer, have a nice day Regards Philip .

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Thank you for your reply today. Unfortunately, it doesn't answer my question, having previously read the guidance you quoted I am none the wiser. Guidance mentions 'gift', which applies in this case 11 years ago, and it mentions 'market value', but it doesn't say if the 'gain' is the difference from the market value date when gifted in 2013 compared with the market value now in 2024 when sold or whether the 'gain' is the entire market value. A) As an example, if market value when gifted was around £140k in 2013, and market value now in 2024 was around £170k the 'gain' might be £30k ( we think this is the answer, but not sure) B) but if 'gain' is measured from £0 when gifted, with market value now in 2024 of around £170k is the 'gain' all of that? i.e. £170k Hope that makes answering the question easier with A or B, the guidance doesn't explain well enough for us to determine, before we look at any possible further deductions. thank you Philip

Hello, please would you advise what 'gain' figure would become due on the sale of a second home that was gifted to my wife and her sister 11 years ago in around 2013 by their parents. The home was occupied by the parents until recently when both passed away. Would the 'gain' be the current value when sold in 2024 minus its value when gifted? Or would the 'gain' be the total value of the home when sold? i.e. a much higher figure Many thanks Philip