Transactions during administration of an estate

[dally]

A couple of questions if I may.
1. If the deceased's residence was valued for Probate / IHT purposes at say £2million and was later sold for £1.5million with the IHT valuation then being amended to £1.5million, can a loss still arise and be claimed for CGT purposes by the Executors? What I am thinking of is agents fees, legal fees, etc incurred in connection with the sale.
2. If shares in a VCT company are sold by Executors is the disposal still CGT free? I believe they may not be in the hands of trustees but what about Executors?

Thank you.

[maths]

If sales price has been substituted for probate value then the sales price also becomes the acquisition price for CGT purposes. In such a case a small capital loss will arise on sale due to costs of disposal.

Sales by executors during the administration are subject to CGT (ie are not exempt).

[dally]

Thank you.