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Capital gains on house gifted 26 years ago?
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VMVarga
Posts: 2 Newbie

Hi all - my wife is selling a house which was transferred to her ownership by her dad 26 years ago, he passed away many years ago, her mum lived in the house (rent free) until recently, she now lives in a care home, question is my wife liable to pay CG on the house proceeds?, and if so is the HMRC calculator the best one to use? - the house has had some work done on it in the 26 years but is substantially the same as it was - thanks
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Comments
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Your wife did not live there?
Then, yes. There is a taxable capital gain on the difference between the nominal value at the time of the gift, and the sale price.0 -
No she didn't - OK thanks for the prompt reply0
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