Gifts with reservation

Hello

Clients mother gifted property to him back in 1994 but continued to live in the property rent free.

She died in 2011/2012 and the property was included in her estate.

Son immediately sold property. Is CGT payable from the date of gift or death?

Would there be a different answer if she paid full market rent for the property?

 

Thanks in advance

Comments
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another double whammy

LyneT |
LyneT's picture

Would there be a different answer if she paid full market rent?

Phil Rees |
Phil Rees's picture

Not planning to Phil.

calvinplummer |