Capital Gains Tax Implications.
I transferred a house I used to rent out to my four children (adults) approxitmly 4 years ago. The transfer value was £70 split equally between them, due to the attacks of the government on landlords they have decided to sell the property. Am I right in the following assumption? As the transfer value was £70 if it sells for say £80k the CGT would be zero, as all four have cgt allowance of £3k. Much appreciated for any comments.
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