joint owning 2nd home

[A500leroy]

Anyone know the tax implications of an inherited (value less than £140k) house if theres no rent changing hands and a realitive lives in it and both names are on deeds?
Does it claass as a 2nd home for the owner not living in it?

[Halitosis]

The occupant will be responsible for rates. Your half share will count as a second home for CGT purposes.

[A500leroy]

Halitosis said:

The occupant will be responsible for rates. Your half share will count as a second home for CGT purposes.

is that only payable upon selling or each year?

[h0bbsy]

Only on selling