Gifted property with Benefit - CGT due when selling

[Flyingspanner]

My mother gifted me her house in 2005 - the value at the time of the gift was £125,000, she continued to live in the house rent free until she passed away in 2019, the value of the property on her death in 2019 was £290,000 so no IHT was due (she had no other assets or savings) - I rented the property out and have paid tax each year on the income, I am now wanting to sell the property which has been valued at £400,000 - for the purpose of CGT that will be due - what do I take as the starting value - a) the value on her death in 2019 when the ‘reservation of benefit’ ended and I could the benefit from the gift or b) the value in 2005 when the property was gifted to me ?

Thanks

[akw]

I am not an expert, just applying some logic:

The period from 2005 to 2019 would be free from any CGT liability if private residence relief is applicable.
For IHT purposes the residence counted into your mother's estate. Not sure if that suffices for claiming PRR
(it would if the property had been settled into trust).

I can't see how not charging rent alone can alleviate CGT, since it is up to you how much rent you charge. For that reason, I think the starting value is 2005.
Including the period from 2005 to 2019 in your self-assessment could possibly have lowered your overall income tax. If it's the 2005 value, you could claim any repairs against your gain.

But as I said, I am not an expert, just taking an interest and am here to find answers to my own questions.

[AGoodman]

It's the 2005 value I'm afraid and there is no PPR unless you have lived there at any point since then.

There is a CGT uplift on death but that does not apply to properties that are only within an estate due to a reservation of benefit.