CGT on gifted property valued wrongly

[jcuk89]

I own a property (property A) that was transferred to me in 2011 from a non-UK resident family member as a gift. It is a family asset that I own and keep on behalf of the whole family.
At the time of gifting and on the land registry papers the property is valued at £190,000.

It is currently let out, and I have never lived in the property since owning it.

I am now a high rate tax payer and wish to buy myself a more valuable property for around £350,000. This is to live in for myself (it is in the area that I live and work unlike property A).
However with new stamp duty rules I learn that this would incur around £10k extra stamp duty due to ownership of property A.

Ideally I would like to gift property A to my brother who just graduated and not working. This will be more tax efficient for the rental income also.
The value of property A is now around £300,000. So I understand this will incurr CGT.

I do not have the cash to pay CGT or extra stamp duty, it would eat too much into my deposit for property B. The only way I can think of is to sell the property and pay the tax once sold.

Is there an option for me to somehow transfer ownership of property A to my brother without incurring CGT?
(I read something about locking the property [and any gains] into a trust where CGT will only be paid once it's sold?)

Secondly, the valuation was genuinely too low when it was transferred to me in 2011. It should be more like £250,000. Can this somehow be corrected with "evidence" from a conveyancer?

[maths]

I suspect you are referring to the settlement by you of the property on discretionary trust which triggers any capital gain but such gain may be held-over.

In due course the trustees transfer the property out to your brother again subject to hold-over relief.

I assume brother is UK resident.

[jcuk89]

I suspect you are referring to the settlement by you of the property on discretionary trust which triggers any capital gain but such gain may be held-over.

In due course the trustees transfer the property out to your brother again subject to hold-over relief.

I assume brother is UK resident.

Yes, that sounds like what I heard. I'm not sure exactly how it would work. He is a UK resident. And of course this is just deferring the capital gain tax.

Hopefully someone can help with the valuation aspect. Is there any way I can put right this incorrect valuation retrospectively? Or perhaps when the property is transferred the original acquired value would be looked at again, since it was not a sale and no CGT would have been declared by my non U.K. Resident uncle at the time?

[maths]

Secondly, the valuation was genuinely too low when it was transferred to me in 2011. It should be more like £250,000. Can this somehow be corrected with "evidence" from a conveyancer?

Basically, yes. If you can support a valuation of 250k then fine.

[jcuk89]

Awaiting a RICS valuation , but had a thought.

When one transfers a property into another persons name, how is the value usually determined, who decides this?

For example if it is transferred within the family, what's to stop the value just being chosen and agreed by the donor and receiver?