Selling a gifted main residence and CGT

HYG

Junior Member

Joined: Nov 2016

Posts: 26
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#1

Selling a gifted main residence and CGT

7th August 2021, 23:01:PM

Hi,

If I was to be gifted a main residence from my father (purchased for Ł55k in 1985) and now valued at Ł425k. If I was to sell the property at a future date, what would the CGT liability be to me?

I understand that as this is was my fathers main residence, he would be free from any CGT under PRR.

Many Thanks.

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ostell

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Joined: Mar 2013

Posts: 10786
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#2

8th August 2021, 09:31:AM

Duplicate thread. Can you keep it all in one thread
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EnglandPi

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Joined: Mar 2021

Posts: 674
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#3

8th August 2021, 12:51:PM

Duplicate of Gifted property which comes under IHT
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Selling a gifted main residence and CGT

Selling a gifted main residence and CGT

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