Hi all, I am divorced and my brother brought me a property last year to help me get back on my feet. We want to transfer the property to me now and thought he could gift it but now I am worried about CGT. I have been paying the mortgage the whole time I have been here and some people have said my brother should have signed a declaration of trust, which would negate CGT? I now also want to convert the loft, which will add at least 50k in value but I am worried about this now. Can someone please give me some pointers? I am getting lots of conflicting advice. What for example if he kept the property in his name and left it in his will for me, would CGT simply be replaced by INH tax? But then if I lived there for 7 years would I be exempt from INH tax?
I would really, really appreciate some advice
Thanks for reading.
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