Title Transfer

anselld

The fact that neither you nor BF have lived in it as main residence makes it liable to CGT.

You were liable at market value at the time it was gifted to him. He is liable when it is sold.

SuMcc

tlc678910 wrote: »

I think capital gains tax applies from the value at the point the gift was made to the point of sale (and perhaps when you bought to when you gave it away)

Everybody also has a capital gains exempt allowance (this year it is £11,100 I believe from a quick google) Has the property gone up more than this? I believe the last 18 months of ownership is treated as if a person lived in the house and exempt from capital gains. Don't panic - speak to your solicitor.

Tlc

Thank you Tlc! You were entirely correct. After speaking to a specialist tax advisor, I can confidently say that we do not have a CGT issue as the property has not increased in value since I gifted it to my partner.