CGT base cost query on trust property

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Parents put residence into trust for grown up children in 1994 on the proviso they could live in it until death or otherwise agreed. One parent then died, second parent moved into care home in 2012. Property was rented and income split between children. Parent then died in 2015, property continued to be rented until March 2019 when it was sold. Presumably there needs to be a CGT computation? Would the base cost be valued at the transfer in 1994, the date the property was vacated by the second parent or the date the second parent died? Thanks 

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13th Nov 2019 14:19

Had something similar recently but the other way around involving a local authority house with the kids gifting the monies and parents purchasing and occupying under trust

I believe it will be the point at which the children gained the beneficial interest in the property, as opposed to legal ownership. That point will be defined by the trust document.

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