The Tax Implications of Giving Away a Holiday Home

If you're selling your overseas holiday home what are the UK tax implications well I'll tell you this was a doctor it was a retired surgeon who had a super property actually in Spain and he wanted to give this to his daughter. The revenue treat that as if you sell it to her at market value so he was amazed that by giving away a property to his daughter  he was going to have a capital gains tax liability but you do. It's one of those things that I think this doctor just couldn't imagine that it was possible he would have to pay tax on that but he did.