Page 1 of Capital gains tax advice please on the old shack front !!!!!!

Hi two years ago I split from the good lady and nippers and was given a small terraced house by my mum to live in, not worth much at the time.
Now they are going for about 50-65k !!!!!!!!!!! but I am thinking of selling to a memeber of the exes family for 45K and moving on.
What it is my name is still on the mortage of the old family house from before we split. I`ve lived here a little over two years down for council tax etc and I wondered would I have to pay capital gains tax if I sold this house.
Thanks in advance, Best Mark.

Theoretically no as it is your principle private residence (as long as it is in your name). It will feature in your mum`s inheritance tax calculation, but she needs to stay with us for a total of 7 years from the gift to be exempt.

All IMHO - get professional advice if unsure!

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Mark Fountain
DVD Reviewer bod who does the VAT. Yawn.

Thanks for that, luckliy it has been in my name since I moved in about 2 years ago so sounds possitive.
Best Mark.