Richard Hughes
Joined: 6/3/2024
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CGT on future sale of gifted property
I have a main residence and a property which is rented out (second house) purchased in 2004 . I plan to gift my second house to my wife as part of a divorce. I understand that no CGT is payable when the ownership is transferred, but if my wife lives in the house as her primary residence for more than a year - and then decides to sell the second house - does she have to pay CGT on the profit since 2004, profit since 2024 or does she pay no CGT? If she sells immediately on receiving the gift, is her CGT the same?