Hi, my mother gifted her daughter her house about 10 years ago, value now is approx £300000. My mother still lives in the house and she has no other assets, the house is to be sold on mother's death and proceeds divided equally to all 4 children and partners, 8 in total. Sister has not lived in the house for 40 years, has her own house with her husband. What is the best course of action to lessen the cost of CGT? Is it possible for sister to divide ownership of the house to each sibling and partner?
All parties are amicable and only want to lessen the CGT payable.
Regards Tim Patrick
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