claim on loss on sale of shares

[jonals]

I am the executor and beneficiary of an estate where I have just sold the shares at a loss from the date of death. My understanding of IHT35 is that the 'appropriate person' claiming the loss cannot freely purchase those shares until two months have passed from the sale date, to prevent bed-and-breakfasting. It seems quite clear that the appropriate person is the executor/personal representative. I am wondering if I the restriction applies to me as the beneficiary too. Would the restriction extend to my family members? Is this just wishful thinking? TIA Jon

[Lee Young]

I believe the restriction is limited to the appropriate person (as is the benefit of the relief) though of course the revenue might have something to say if there is a scheme in place for whatever reason.

[jonals]

Thanks Lee. To confirm I spoke to the IR and they said that the restriction on repurchasing shares only applies to the executor acting within the estate. Once the cash from the shares is passed to beneficiaries' accounts there are no restrictions, even if the beneficiary is the executor.