Capital Gains tax on inheritance property

Capital Gains tax on inheritance property

Author
Discussion

rek

Original Poster:

129 posts

123 months

Thursday 24th July 2014
quotequote all
Can anyone help with a query about a small inheritance, Im a bit lost with all of this...

If it takes 2 years to sort out the estate of a deceased parent and be in a position to sell the house, am I liable for CGT on the increased value of the property in that 2 years? The total value is well under the inheritance tax threshold.

Ive searched the forum for someting similar and think its a yes...

rek

Original Poster:

129 posts

123 months

Thursday 24th July 2014
quotequote all
thankyou its right there in black and white..

"You might have to pay Capital Gains Tax if you sell, give away or exchange an asset you've inherited and it's gone up in value since the date of death."

rek

Original Poster:

129 posts

123 months

Thursday 24th July 2014
quotequote all
About a month ago.. My dad had remarried and moved to another country. it took months to even get a certified death certificate so we could stop bank, pensions etc... it's made everything take a long time.