I own a property (not my main residence) which is mortgage-free. I would like to share ownership of this property with my two siblings, so that we all own a third share each. The property was purchased for £150,000 around 15 years ago and the property is now valued at approximately £270,000. 
Can this be done without incurring a capital gains tax (CGT) charge, as my siblings will not be able to afford this? 

Arthur Weller replies:  

If you transfer one-third of the property to one sibling and another one-third of the property to the other sibling, you will make a capital gain of £40,000 + £40,000 = £80,000. This is because the property has increased in value by £120,000 since you purchased it. The CGT charge will be on you, not on your siblings. Such transfers cannot normally be made without a CGT charge (NB there is a possibility to transfer into a trust, using a CGT election, and then transfer out of the trust, again with a CGT election; but for this, you would have to speak to a tax adviser).