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Sam, Accountant
Category: Tax
Satisfied Customers: 8024
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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I want to gift my son my solely owned property, do i need to

Customer Question

I want to gift my son my solely owned property, do i need to pay capital gains tax?
Assistant: What are the assets or property for this capital gain?
Customer: property value is around £170000
Assistant: Anything else you want the Accountant to know before I connect you?
Customer: i own it by buying through the right to buy scheme over 10 years ago
Submitted: 11 months ago.
Category: Tax
Customer: replied 11 months ago.
Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call.
Customer: replied 11 months ago.
Let me know if you need more information, or send me the service offer(s) so we can proceed.
Expert: replied 11 months ago.

Hello and welcome to JustAnswer. I am here to help you. I am reviewing your question and will respond to you shortly.
Many thanks

Expert: replied 11 months ago.

Thank you for your question.

Please clarify for me

- has the property been your main residence all the time you owned it

- would be moving out after gifting the property to your son

Many thanks

Expert: replied 11 months ago.

Do you wish to have a phone call as requested

Customer: replied 11 months ago.
Expert: replied 11 months ago.

Thank you for your reply.

Please request Just Answer customer service for a phone call.

Many thanks