asmyth74
Joined: 9/4/2024
-
CGT ON GIFTED SECOND PROPERTY
I am thinking of giving my son a buy to let property I own outright It cost me £40,000 when purchased and is now worth £160,000 My son will not live in property but continue to rent it out Do I have to pay CGT on the £120,000 profit now even though no money has changed hands -
Who pays CGT
I am thinking about gifting a property to my son I bought it for£40,000 and it is now worth £16000 Does CGT need to be paid by me or him