I have a client who bought a house for his daughter a few years ago because his daughter could not get a mortgage. House and Mortgage in clients name. Client now wants to sell and sale price is £260k compared to purchase price £125k so as it stands a significant CGT bill at 18%/28%.
Daughter paid my client rent to cover the mortgage payments. Client has never lived in the property.
Is there anything that can be done in these circumstances to avoid this tax charge where in reality this is the PPR of the daughter but from a CGT perspective it is not!