CGT on part of house/site transferred to child

[texet]

Small bit complicated but looking for views on this, got divorced and gave my half of the house/site to my daughter. Ex-Husband and daughter still reside in the house. Revenue are on to me about a CGT liability. Surely there is none??

 

[Gekko]

What's the timeline for the various events (i.e. you vacating the property, the divorce and the gift)?

 

[texet]

I left good few years i.e 5/6 years or more before the divorce, and then there was about 3/4 years before house was finalised and gifted to my daughter , does this make a difference?

 

[Gekko]

I left good few years i.e 5/6 years or more before the divorce, and then there was about 3/4 years before house was finalised and gifted to my daughter , does this make a difference?

Yes.

Market value is deemed to apply to the diposal and you're deemed to have received whatever the market value is (despite the fact that it was a gift).

However, any deemed gain may be diluted because the property was your primary residence for a number of years.

There may also be other reliefs available.

You should get professional advice.