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Ask Your Own Question, Chartered Certified Accountant
Category: UK Tax
Satisfied Customers: 4667
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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My mother is looking to sell her home that my grandmother has

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My mother is looking to sell her home that my grandmother has lived in for the last 15 years (rent free)here in the uk, my mother lives in Corfu she does have another property here in the uk which is let full time, she owns half of that prperty with her partner who also lives in corfu, is my mother liable for capital gains on the sale of the property that my grandmother was living in if she sells + she wants to split the profit 3 ways with myself and my brother and herself -

Hello, if you have any questions or need further clarification after reading my answer please let me know.


Please advise if your mother is a UK resident for tax purposes. If not, for how long has she continuously lived outside the UK.


Is the property in her sole name?


Many thanks

Customer: replied 3 years ago.

she is no longer a uk resident for tax purposes, she has lived in corfu for 12 years.

Gavin, thank you for your reply.


As your mother has lived outside the UK for past 12 years and she is non resident for UK tax purposes, she would be exempt from capital gain tax on any gain made on the sale of her property.


As far as splitting the profit three ways .. monies gifted to you and your brother would not be taxable as they are treated tax free in the UK. On the other hand, the monies given to you would be regarded as potentially exempt transfers for IHT purposes.If your mother survives for seven years after making a gift to someone, the gift is generally exempt from Inheritance Tax, no matter what the value.


More information on this and Inheritance Tax exemptions and reliefs can be found here


If you need more information please let me know before you rate my service.


I hope this is helpful and answers your question. I am available for any follow up questions you may have, and you can use the reply button to post your follow up questions to the page. and other UK Tax Specialists are ready to help you

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