Postby SteLacca » Tue Jun 19, 2018 4:15 pm
It doesn't matter whether you are bringing in a new party or simply disposing of your interest to your daughter, if you give or sell her your share in the absence of any reliefs it is likely that you will be exposed to capital gains tax. This would be calculated on the difference between your share of the original cost and the market value of your share when the disposal is made (less any allowable deductions, such as original costs of acquisition, costs of disposal and enhancement expenditure, plus whatever private residence relief you have built up during ownership.
Depending on values, it may not be as bad as you think.
Some planning should probably also be considered for inheritance tax if you are planning on gifting your share, since should you pass within seven years a charge to IHT may also arise.