Mr A owns 2 properties P1 and P2.
Mr A bought P1 in 1996 and lived there till 2010 (14 years). It was then rented from 2010 to 2018 (8 years). He moved back in September 2018 to date. He wants to gift the property to his son. Would there be any IHT or capital gains?
He bought P2 in 1987 and lived in it till 1996 (9 years). The property was rented from 1996 till 2018 and it has been empty since then. He wants to sell the property now, will there be capital gains tax?
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