Need some help please!

sparklycat

My husband and I jointly own our house with my mother in law. We are now living in the property and want to buy her out. (her share being half market value). As this is not her main residence she is likely to have to pay CGT. Are there any legal ways that would help her to reduce this tax bill and not give too much to the taxman!!!!(sorry!)e.g are there any ways we can gift money?

Thanks:)

CLAPTON

whether she gives you her share or sells it to you it is a disposal for CGT and she is potentially liable for the tax.
depending upon the purchase price and the current price and after deducting any fees and costs and after indexation and taper relief and of course her CGT allowance of 9,200 she is liable for the tax of the balance.