Are there other reasons a transaction below the market price might concern the tax man besides CGT?
Also, f he then sells the property at a price which is lower than the original joint purchase price BUT higher than 2X the price I sell him my half for, I'm guessing he would have to pay capital gains on the half he bought from me.....?
(It might even be worse than that and his whole purchase price could be considered for tax purposes at the price of 2 times what he paid me, making him be in profit at a lower price for his half he has now.) But most probably I'm guessing he could off-set the loss on one previous half he owes against the profit of the later half he bought. Is that the case? If that is so, after he buys me out, which price is on record as the existing purchase price, i.e. at what price in such a case would a sale 'flag' the tax man: purchase price number 1 , 2- see brackets above-, or some mix of the 2?