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Myself and my siblings have inherited my mums house as she…

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Myself and my siblings have...
Myself and my siblings have inherited my mums house as she has passed away. Mum left the house to us in her will. Dad is still on the land registry and owns half of the house. Mum and dad divorced a number of years ago but they didn't settle the house so it remained jointly theirs. Dad wants to gift his half to us however his accountant has mentioned that there may be capitol gains tax on the property as he owns a house that he doesn't live in. However as he hasn't personally proffited from the house, will the capital gains still stand. If so what percentage? Thanks!
Submitted: 3 years ago.Category: UK Property Law
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Answered in 4 hours by:
6/26/2015
Solicitor: Clare, Solicitor replied 3 years ago
Clare
Clare, Solicitor
Category: UK Property Law
Satisfied Customers: 35,310
Experience: 25 years exeperience
Verified
Hi
Thank you for your question.
My name is Clare
I will do my best to help you but I need some further information first.
How much is the house worth and what rate of tax does your father pay?
How much was the property worth when he left?
Clare
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