KasperWW Kasper

Hi there, 15 years ago, my parents "gifted" me their main (and only) property and the property is now in my name. I have always lived with my parents and nothing has changed since then. My parents do not pay me a rent or anything like that, so I understand that this property will not allow exemption from any possible inheritance tax; however, I am curious as to what will happen should I ever decide to sell the property. Am I liable for any CGT or am I covered by private resident relief? It is unlikely the property will ever be worth more than £325K Thank you for your help.