My aunt would like to transfer her main residence in Brighton, her only property, which she has lived in since she purchased it in 1996, to me. I have read that because it is her private residence, which she has lived in since the purchase, capital gains tax (CGT) is not payable. Is this correct? 

Arthur Weller replies  

This is correct. See HMRC’s Capital Gains Manual at CG64200. This is the exemption from CGT known as principal private residence (PPR) relief. When your aunt gives away her property to you, she is deemed by the tax rules (see CG14530) to transfer to you at market value; nevertheless, there is no CGT to pay due to PPR relief.