CGT on gifts to family members

[Haylins]

My brother in Wales owns two properties - the one he lives in in Wales and the other he rents out in Portsmouth. We have an informal agreement that the one he rents out in Portsmouth will be left to me in his will. However, he has since married for the first time and I am now concerned about that arrangement, since there is nothing in writing between him and me. The main reasson he did not transfer the house ownership to me was due to the potential capital gains tax he would incur. Now I feel I should go ahead anyway, just so the matter is settled and the house is mine officially.

I am a UK citizen, but I have lived with my family in Austria for almost 30 years.

Could you please give me some advice as to whether CGT would be applicable in this case and how much it would be, percentage wise?

Many thanks in advance.

[tom 7000]

Yes and he pays it

and its really complicated to work out and depends on
How long he had it
what it cost him
what he sold it for
if he lived in it and for how long

[mullet]

This is a duplicate post. Other responses here.
http://www.taxationweb.co.uk/forum/cgt- ... ml#p140115