give buy to let away

Broadly speaking, there are three taxes that may or may not come into play.

First you've got capital gains tax, which would be the same as if you sold to a third party - the value for CGT is based on what you'd get after costs in an open market sale.

Then, there's stamp duty, which is based on what your daughter pays for the property. If you give it outright, then it's nil. If you do something tricksy involving the mortgage, it might get more complicated but, if your daughter is a first time "buyer" she won't pay stamp duty on a property of that value anyway.

Finally (literally!) there's inheritance tax. If you die within seven years of gifting the house, it will be included in your estate for IHT purposes.

You'd be well advised to talk to an accountant: there are things you and your wife can do to minimise any tax impact. For example, you can gift part of the house to your wife first, without any CGT or IHT implications, which would then mean you'd have two lots of CGT allowances to set against the gain. You could also consider gifting part of the house to your daughter this tax year and part next year, so that's another couple of annual allowances.