Capital Gains Tax Query

Jul 5, 2010
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Hi, I have a question in relation to CGT if I give a property away. This is the situation. I was given a property about 8 years ago, and subsequently rented it to my uncle for a few years and paid tax on the rental income. When my uncle moved out, the property remained vacant. I have never lived in it.

My parents recently divorced, and to save them selling the family home (they are both pensioners with little income), I agreed to give my property to my mother, thereby, both got a house each. I should also say that I do not actually own a house of my own other than this property.

As I have given this as a gift as part of a divorce settlement, am I, or my mother liable to pay tax. I mother cant live in it (its too far away from grandkids etc) so is going to sell it and buy a home closer to her current location.

Any advise, clarification or direction would be greatly appreciated

Thank you


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