stxh29

Hi My mum, brother and myself own a property and are in the process of selling (just received offer). My mum has always lived in the property and continues to. My brother and I moved to separate rented accommodation in 2020 and 2022 respectively. The proceeds will be split 3 ways as the property was transferred to us by our dad as a gift because he has been unwell and is looking to sort his affairs out. My dad purchased this back in 2007. The transfer to us took place in October/November last year. My questions are as follows: 1) How is the gain calculated? Is the gain from when we obtained the legal interest in the property? 2) is there CGT payable for my mum on her portion of the gain as she still lives there? 3) is there CGT payable by me and my brother and at what rates as I am a 20% income tax payer and he is a 40%? However, the proceeds will take my income over the 20% threshold and therefore will I be a 28% CGT payer? 4) Will any of us qualify for the private residence relief? Thanks