I have a small number of properties I have purchased over the years which are in joint names with myself and my wife.
I was talking to my accountant and mentioned that in a few more years I would give one to each of the 2 children to get them on the housing market.
I said that provided I survived more than 7 years then there is no IHT due.
She said I would be liable for a CGT charge on the profit based on average values at the time of transfer.
Is this correct as I was under the impression that if I give away capital assets, cash assets, share assets, valuables etc prior to death 7 years later then there is no tax due on the asset.
I would value others opinions on whether my accountant is right or I have got it wrong.
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