I own a buy-to-let (BTL) property solely in my name that I rent out. If I make a declaration of trust so that my brother gets transferred 50% of the beneficial ownership, is this a deemed disposal for capital gains tax (CGT) purposes of the 50% I have given up? Also, once a declaration of trust is made, can this be changed as many times as you wish, or can it not be varied? 

Arthur Weller replies:  

Transferring 50% of the beneficial ownership of your BTL property to your brother by declaration of trust is treated as a gift of that interest, which, for CGT purposes, is a disposal at market value. If circumstances change, you can execute a fresh declaration reflecting new proportions (there is no statutory limit on the number of variations), but each must accurately portray the actual split and be properly executed in writing.