Mike O
Joined: 8/21/2024
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CGT when buying siblings share of inherited property
Me and my two siblings inherited my parents house, one third share each. I am buying their two thirds share. The house was originally valued at £360000 about 18 months ago. We have agreed on a price of £405000 and I will pay them £135000 each (one third of £405000). Will I be liable for CGT as I am basically buying the property from them and not gaining any cash value?