CGT liaability

[mill]

My uncle and I bought a flat together about 4 years ago. This is the only property we own and it is therefore our primary home. Should we sell it we have been informed that it is therefore exempt from any capital gains tax on its substantial increase in value
My uncle is moving to the United States permanently. He therefore wishes to gift me his half of the flat. Given the situation, am I correct in assuming he will not incur any Capital gains tax if he makes me the gift.

[bd6759]

Do you both live in the flat?

[SteLacca]

You also need to consider inheritance tax depending on the value of the flat and his estate generally.

[mill]

Thank you both

I response to bd6759 we have both lived in the flat since our original purchase.

If there is no UK CGT liability resulting from the transfer to me, then we would like to process the transfer prior to my uncles departure for the United States to avoid any future involvement of the IRS once he becomes a US taxpayer.