Property CGT

[jasps]

Hi All,

I am already a member here but have logged in under a different username to remain anonymous.

I have a question regarding the property my girlfriend lives in.

It is owned by her mother and uncle who inherited it when her gran died some 10 years ago, my girlfriend has lived in it since then. If my girlfriend moves out and her mum/uncle sell it, will they have to pay CGT on the property? (there is no mortgage)

If so, if they were to gift the property to my girlfriend now, she lives in it for 12months or whatever the minimum is and then sells the property would she have to pay CGT? She could then gift some money to her mum and uncle at a later date.

The property value is also below the inheritance tax threshold.

Is this possible or legal?

Thanks.

[jasps]

Hello Eric,

Thanks for the advice it is very much appreciated.

As a matter of interest, what is the % that will be due as tax on the property value?

Cheers

[jasps]

Arse! I'm sure no one noticed!

Cheers Eric and Ginettag