gifting a residence operating as a business - GCT calculation

[jimchan]

I will be gifted a residential property that has operated as a B&B since my parents purchased it 20 years ago. Property value has risen from 200.000 to 800.000. Capital Gain 600.000. My parents operated the B&B themselves for 14years, and have rented it out to a manager for the last 6 years @ 50.000 / year

I am trying to calculate the CGT in the transfer:

- I have heard that Entrepreneur's tax relief can apply for the 12 years ?
- I am also wondering if stamp duty applies if the property is transferred within the family.

Appreciate any informative advice.