Several years ago, when my father died, my mother put their house into trust, with me and my brother as trustees with responsibility for the upkeep and maintenance of the property.
My mother recenty had to go into a residential care home, funded by our local authority since her personal estate value was less than £14k.
If my brother and I, as trustees, now choose to sell the property currently owned by the trust, and transfer the proceeds into our personal accounts, is there any tax implication for us as individuals, income tax or capital gains tax?
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