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Where Taxpayers and Advisers Meet

any tax/fees

pharmacist123
Posts:3
Joined:Sat Apr 10, 2021 3:37 am
any tax/fees

Postby pharmacist123 » Sat Apr 10, 2021 3:53 am

Hi,

I've recently inherited a property from one of my family members and became the administrator through a probate grant and want to register it on my name. I do not have a name registered under my name and the property is worth £100,000. Will any tax or fees be involved with the process of registering it under my name.

pawncob
Posts:4656
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: any tax/fees

Postby pawncob » Sun Apr 11, 2021 11:03 am

Shouldn't be any fees or tax due. Bequests are exempt from SDLT.
With a pinch of salt take what I say, but don't exceed your RDA

pharmacist123
Posts:3
Joined:Sat Apr 10, 2021 3:37 am

Re: any tax/fees

Postby pharmacist123 » Mon Apr 12, 2021 4:50 am

Will there be any capital gains tax involved

pawncob
Posts:4656
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: any tax/fees

Postby pawncob » Mon Apr 12, 2021 10:45 am

If probate value was correct and no increase since, then no CGT.
With a pinch of salt take what I say, but don't exceed your RDA


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