Gifts with reservation

Posted by calvinplummer PM | on Mon, 30/07/2012 - 10:45 463 3 comments | report

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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LyneT | Mon, 30/07/2012 - 11:18

Phil Rees | Mon, 30/07/2012 - 13:36

calvinplummer | Mon, 30/07/2012 - 14:41