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cgt on gifiting inherited property
suesmiff
Posts: 7 Forumite
in Cutting tax
Hello everyone,
I inherited a house from my Dad in 2016 and have rented it out ever since,I've never lived there.I'd like to gift it to my adult daughter who will continue to let it out.If I have to pay cgt how do I work out how much?
Thanks in advance for any replies
I inherited a house from my Dad in 2016 and have rented it out ever since,I've never lived there.I'd like to gift it to my adult daughter who will continue to let it out.If I have to pay cgt how do I work out how much?
Thanks in advance for any replies
0
Comments
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1
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Does your daughter already own a home? If not you she will lose her first time buyer status.1
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yes she already owns her home with her husband0
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Value of property when you gift it, less the probate value.
Less the current £12,300 exemption, then taxed at either 18% or 28% depending on your income0
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