Tax Forum :: Free Tax Advice

Hi, this is a question that's been running around my head for a while now and I can't quite figure it out!
If as parents we die and btl property owned outright forms part of our siblings inheritance, and we are below the IHT limit, do they still have to pay CGT on these properties?
Also what would be the situation over the IHT threshold?
Just IHT or CGT as well?
Many thanks,
Martin.

There is a tax free uplift of the base cost on death so your children would inherit the property with a base cost equivalent to the market value at death.

If they subsequently sell, they only have to pay CGT on the difference between sale price and market value at your death.

This applies whether or not IHT is actually payable.

Thank you for the information.
Martin.