I'm after some guidance on CGT on a sale of an investment property. The property was gifted with a probate value of £250k in 2016, ownership at this point went 50% share husband and wife from day 1 of the property being gifted in the estate.
In 2017 the husband died with the 50% share transferring to the wife in probate with a value of £300k. The property is now to be sold with a value of £350k.
Is it correct to assume the 50% husband share is not subject to CGT at death... Is it correct that the total gain is £75k only? Its this extra step that is adding confusion as CGT is sale value - price paid only normally.
To get to the £75k it's £50k for the 50% wife share from day 1, then the transferred 50% from death.
Thanks
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