Share this content

Gifting of Property subject to CGT?

Is the gifting of an investment property to a child, nephew or neice subject to CGT?

Didn't find your answer?

Is the gifting of an investment property to a child, nephew or neice subject to Capital Gains Tax?

Replies (6)

Please login or register to join the discussion.

avatar
By David Ex
22nd Jan 2022 22:25

27SUN wrote:

PLEASE CAN SOMEONE ADVISE ME, Is the gifting of an investment property to a child, nephew or neice subject to Capital Gains Tax? MANY THANKS FOR PROVIDING YOUR PROFESSIONAL ADVICE.

Fixed that for you.

Thanks (6)
Replying to David Ex:
avatar
By 27SUN
23rd Jan 2022 20:55

David,

Thank you for the amendment's to my post. Really appreciated

Thanks (0)
avatar
By Tax Dragon
22nd Jan 2022 22:34

Yes of course.

Thanks (1)
avatar
By Paul Crowley
23rd Jan 2022 02:26

Yes

Thanks (1)
avatar
By Hugo Fair
23rd Jan 2022 21:35

As others have said ... by default, Yes, the gift is treated as realisation of the asset (using MV in the absence of the proceeds from a sale in order to calculate CGT).
However there can be exceptions ... of which the best known is where the property counts as the 'primary residence' of the donor - unlikely here as it is described as an investment property!
And of course side-stepping CGT can leave donor or donees facing other tax bills.

Thanks (2)
paddle steamer
By DJKL
24th Jan 2022 09:57

Is it by any remote chance a FHL?

Thanks (1)
Share this content