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Sam, Accountant
Category: Tax
Satisfied Customers: 7541
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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My husband and I bought a property in 2003 which which has

Customer Question

My husband and I bought a property in 2003 which which has been let for the past 12 years. We have never lived in the property and it has not been nominated as a PPR. My husband died in 2011 and I am now the sole owner of the property. I now wish to transfer the property to my sons. Is there any way that my Capital Gains liability can be reduced?
Thank you
Submitted: 3 years ago.
Category: Tax
Expert: replied 3 years ago.

Hello and welcome to the site. Thank you for your question.

Please advise

- if the property has increased much in value since the death of your husband.

- would you be prepared to move into that property and make it your principal private residence for a time period before you transfer it to your sons?

Many thanks.