Capital Gains Tax

[Susan]

I am living and renting abroad. My parents are living in my home. I bought this home about 20 years ago for £3,500 and my parents and my name are on the title deeds. If and when my parents pass away, I would like to sell and buy a place for myself abroad. Have been told by friends that I will be charge CGT. Parents pay no rent for 19 years of this. They paid rent for 1 year but I had to pay so much back to revenue I scrapped it as it was not worth it. How can I advoid/reduce CGT so as to have as much of the money to buy a home abroad.

I am 62 years old - can you advise me?