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Thanks for your question. You will have no capital gains tax to pay as you have lived in the property and will therefore get private residence relief. Your brother will pay capital gains tax on his share of the gain. I hope that helps. Please leave a positive rating so that I am credited for my time.
There is no way round this. What should have happened when you bought, assuming it was possible, was that it should have gone in your name only with him taking a charge on the property as opposed to a share of the title. However it’s too late to do that now. The tax on his share of profit of £55000 is £8674. Note you can also deduct sale, purchase and refurb costs from the profit. I hope that helps. Please leave a positive rating so that I am credited by JustAnswer for my time.
If his income was taxable in the UK the CGT would be £12124. As he has no taxable income in the UK the CGT is £8674.