Thank you for your support.
On reflection I gave you completely the wrong answer, but the gist was correct and you have nothing to report to HMRC. By buying your share out you have sold your interest in your original residence, but as it was your sole of main domestic residence Private Residence Relief (PRR) would apply at 100% of the gain. Most people do not realise that when they sell their house they are liable to Capital Gains Tax (CGT) on any gain, but for nearly everybody PRR wipes it out. In any event the last 18 months of ownership don't count either and you are deemed to be in residence even if you are not.
So the answer is a lemon; you would appear to have no liability so can retire from the fray unscathed. You can keep the advice on gifts in your data bank for future reference!
Many thanks for the clarification, Big Duck. As long as the upshot is I don't have to pay any tax, I'm happy!
Please be so kind as to rate me before you leave the Just Answer site.
er - I thought I did, with an 'Excellent' (see 10.40 post above).
No intention to do so; I'm very grateful for your advice.