Basically my gran and auntie own 50:50 of the house me and my mum live in. We're looking at transferring the property to mr, 100% over the next two years. For CGT, will I have to pay CGT on the nil value transfer and the deemed value will be the market value, am I correct?
Purchase price was £230k and current market value is about £310-315k.
On the £80-85k, 'profit' in guessing there will be CGT implications?
Also, as I am due to only receive 50% ownership this year and 50% next year, will the CGT bill be split between these years? (Obviously the market value will also change slightly in that time)
Many thanks for all responses
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