My sister bought a home for £200,000 in 2011 in my name, as she could not get a mortgage in her name. She has lived there since with her family and paid the mortgage payments by transferring the funds from her account into my account, and I have paid the mortgage provider. In 2023, I sold the property to her so that it would be in her name. At this time, the outstanding mortgage was £100,000, and she paid the amount through a solicitor. Do I need to pay CGT on this transaction?? 

Arthur Weller replies:  

It appears from what you have written that although you were the legal owner, your sister was the beneficial owner. See HMRC’s Capital Gains Manual at CG70230. If this is correct, all you did in 2023 was to transfer legal title from yourself to the beneficial owner. HMRC states at CG12704 and CG10720 that this transaction is not considered a disposal as far as CGT is concerned.