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Where Taxpayers and Advisers Meet

Completing Trust and Estate Capital Gains (SA905)

Joined:Wed Jun 05, 2024 5:10 pm
Completing Trust and Estate Capital Gains (SA905)

Postby MrStardust50 » Wed Jun 05, 2024 6:28 pm

I am the Executor for my late mother who died in June 2023, leaving a house.

Probate value for the house was £550,000 and the final sale value was £580,000. IHT was paid on that probate value. The District Valuer Services at Valuation Office Agency agreed with the probate value.

So CGT was due on the £30,000 gain less £6,000 agents/solicitor fees less £6,000 annual exempt, meaning 28% on £18,000. Total tax paid is £5,040 and a Capital Gains Tax on UK property Return was sent.

I am now completing the Trust and Estate Tax Return (SA900), along with Trust and Estate Capital Gains supplementary pages (SA905). With regard to Page TC1 of SA905 I need assist with the following :-

1) Column E - what do I enter for "Disposal proceeds"? The sale value or the gain?
2) Column G - which goes here?
3) Column H - which goes here? Gain less costs? Gain less costs less exempt?

Return to “Capital Gains Tax, CGT”