My mother has a property in her sole name which does not have any mortgage. She has not resided in for a number of years. The property has been let by me for several years and I have received rental inform from it and have accounted for the tax thereon.
My question is that were my mother to transfer the property to my myself (only child), given that she can prove at some stage previously that this property was her principal private residence, I assume there will be no tax due on any transfer? An alternative solution is for the property to be transferred in a similar way, although to a corporate entity where we both could be shareholders. How would that effect any CGT liability?
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