CGT on house part owned by NRB trustees

Postby pake on Tue Nov 28, 2006 9:01 am

I have been reading many questions and answers on this forum and am now thoroughly confused. I hope someone can help me.

My husband died a year ago. I had a deed of variation drawn up setting up a nil rate band discretionary trust. The only thing in it is his share of the house. If I were to sell the house would the trustees be liable for CGT on their share of the sale?

The solicitor who set up the DoV told me I would be able to sell the house, buy another and split any excess cash between the beneficiaries, with the agreement of the trustees. He did not mention CGT.
pake
 
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Postby Lee Young on Wed Nov 29, 2006 4:04 am

See answers by me and Lawrence in the previous thread.
Lee Young
Solicitor, Chartered Tax Adviser and Trust and Estate Practitioner


Partner, Frettens LLP
leeyoung@frettens.co.uk
01202 491701
Lee Young
 
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