Cgt on option sold on shared land

[Ksands]

Hi
I inherited a 1/9th share in a piece of land. An option has been sold to a developer for £90k. My share will be £10k so as under the £12k threshold I assume I won’t need to pay any cig tax. Am I correct?

[Jholm]

Correct. Not sure what your base cost would be (value at probate) but if the value has since dropped, might want to consider carrying a loss forward. Otherwise, no action needed.