Cgt on second property ? Or IHT as it was a gwr?

[Tingly]

I am considering selling a property which was gifted to me by my parents in feb 1987 who both comtinued to live there , firstly until my dad died in 1989 and then until my mother finally passed away in march 2014.

I lived there until march 1993 and then moved to my marital property whilst caring for my mum who still lived in the house

My mum died in march 2014 and i have rented it out from aug 2014 but hate doing this and wondered , if i sold it , as it was a gift with reservation, would i be subject to iht or cgt?

And if its iht , because the value of the estate was less than 300k would the sale then not attract tax?

And if its cgt where do i get the original 1987 property value from- i have drawn a blank with estate agents, solicitors and even the inland revenue - who apparently use a book but wont tell me which one it is!

Many Thanks for anyone who can help me wiyh this

[AnthonyR]

I've answered your thread asking the same question in property taxes.

Although I note that some of the numbers differ - so you need to do the calculations properly to make sure you self assess properly (or get an accountant to do it for you). Your other thread says you got it in 1984, so I've offered a link to the 1982 values, 1987 could obviously make quite a big difference.

I've also just seen you posted this in IHT as well and have already got an answer...