Hi
I have a buy to let property which I bought for £67500 and I remortgaged two years ago and have £80000 left on the mortgage and property was valued at £115k then.
I’m now looking to pass this house onto my cousin with the mortgage as long as she passes the lending criteria by the mortgage provider.
My question is what are the CGT implications on this? Do I still have to pay it? If so is it the tax on the profit from
£67.5K to £115k?
Thanks in advance.
Lee
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