Have Tax Questions? Ask a Tax Expert for Answers ASAP
Thanks for your question
I am afraid any transfer will trigger a capital gain - even one where a transfer to a trust takes place, as this is a change of ownership of the property.
But I will advise that the gain position will be market value at todays date less the 1982 value (due to rebasing) so the gain may not be as sever as you thought.
I am sorry the news is not better.
Please feel free to ask for any further points on this matter, but if you could rate the level of service I have provided, it would be appreciated, as this ensures I am paid.
Please advise if you had any follow up questions. or wished to clarify anything.