I was transferred a house at age 25, based on a trust. Some 10 years later, I now wish to dispose of this property (which has been rented out and is not my PPR). Do you know what taxation I'm liable for?
Assuming that you have paid income tax on the rental income, you could be liable for Captital Gains Tax on the disposal of the property and possible Capital Acquisition Tax depending on the exact details of the trust.
When you say it was transferred to you, did the house pass into your personal ownership, or did the trust continue to own it in some way from ten years ago?
When you say it was transferred to you, did the house pass into your personal ownership, or did the trust continue to own it in some way from ten years ago?
Then you will be liable for CGT on the gain, if any, (sale proceeds less the acquisition value when it passed to you). This should have been given to you by the trustees