Giorgio Sbampato
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RE: Gifting Property
We are Italian nationals, resident in Italy. We have a rental property in the UK, jointly owned between husband and wife. We would like to gift 50% of the flat to our two daughters, anso Italians, and both living in France. So that we will have 25% each aftr the gift. When the law changed we had our property valued in order to have a base value, and we had it valued again recently by two estate agents and it has not increased in value, if anything it has a small decline. In theory there should not be CGT applied to the gift? Only the 7 years rule? what about stamp duty? Thank you