Hello,
I jointly own a commercial business unit (fish&chip shop) with my mother, she originally owned it with my dad but he had given me his share over 10 years ago. We own the freehold and it’s currently let out to a tenant for 25 years with 20 years remaining.
My mum is now wanting to gift me her share of the commercial property and I was wondering what are the CGT implications around this? There will be no money exchanged, would it just be liable for IHT?
Thank you,
Jay
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