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Where Taxpayers and Advisers Meet

Captial gains - (re-posted)as was under wrong section

redandwhite
Posts:4
Joined:Thu Jun 08, 2017 9:36 pm
Captial gains - (re-posted)as was under wrong section

Postby redandwhite » Fri Jun 09, 2017 1:23 pm

I am about to sell a house in which is under probate. The estate was valued under the £325k inheritance tax threshold. Once the house is sold, capital tax will be due, will it automatically be flagged with HMRC if sold under probate and it's sold at a price exceeding £325k?

Peter D
Posts:10668
Joined:Wed Aug 06, 2008 3:37 pm

Re: Captial gains - (re-posted)as was under wrong section

Postby Peter D » Fri Jun 09, 2017 3:59 pm

Why will CGT be due. If the estate is under probate you do not know what the property it worth. Please provide more detail. Was the deceased widowed, divorced or what. Regards Peter


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