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Please advise on the following scenario: A portuguese parent (no connection to the UK) buys a house in Portugal pre-2006 as the legal guardian of their child. The infant is gifted the bare ownership and the parent retains Usufruct over the property (i.e. is the beneficiary). As an adult, the bare owner permanently lives and works in the UK. The share of ownership was discriminated in the deed at time of purchase in accordance to portuguese law - around 0.6 to the usufructuary, 0.4 to the bare owner. If the house is sold this fiscal year, my understanding is that the bare owner is only liable for CGT on their percentage of the property, as discriminated in the deed. As an e.g. if the property had been acquired for 10.000 euros, and now sold for 100.000 euros, ignoring any allowable discounts and the exchange rate and at the maximum tax band, by my estimates the CGT due HMRC would be (100 - 10)K * 0.4 * 0.24 = 8640 euros. Is this correct? Are there any IHR or further tax implications in this scenario? Thank you for your help on this