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CGT calc on shares inherited 5 years ago from deceased spouse
Can you please help with a CGT calculation. My mother in law inherited her husband's shares 5 years ago when he died. She wants to sell the shares to her son. Is the gain the difference between the value 5 years ago and today? Or is it based on the valuation when he inherited them from his father over 40 years ago? Or is it something else? The shares are in a private limited company. Many thanks, Graham
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jerome.lane
- Posts:237
- Joined:Mon Aug 12, 2019 8:41 am
- Location:Sandhurst, Berkshire
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Re: CGT calc on shares inherited 5 years ago from deceased spouse
The gain will be based on the probate value 5 years ago. If its a trading company, then there are CGT reliefs for gifts available although i'm guessing she wants cash in pocket even if it is nearly the festive season of goodwill to all!
Jerome Lane
Tax Adviser
Telephone: 07943 005902
Tax Adviser
Telephone: 07943 005902
