CGT liability when gifting property

[ACCK01]

If you inherited a property and then decided to gift a portion of it to a sibling. Would you be liable for CGT?
I am aware that the sibling would be liable for gift tax (20% of total amount - threshold etc) but as the doner, would you have to pay any tax considering you are not making any gain on the transaction?
I am aware that if you were selling the property you would be liable for CGT (if a gain was made) but was wondering what was the story if it was gifted?
Any advice would be much appreciated

 

[bazermc]

A cgt liability may arise on a gift of the property as there is a diposal at market value at the date of the gift

the gain (if any) will equal the difference between the market value of the proprty at the date of the gift less the market value at the date of inheritance

should the donee have a cat liability the cgt/cat offset should be available this is because the two tax charges arise on the same transaction this allows the doner to reduce his cgt liability by the amount of cat the donee must pay on the gift

however should there be no cat paybale then the cgt will be due in full