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Where Taxpayers and Advisers Meet

Advice on when to pay CGT, etc

priyab
Posts:1
Joined:Mon Aug 16, 2021 9:09 am
Advice on when to pay CGT, etc

Postby priyab » Mon Aug 16, 2021 9:21 am

In the process of dealing with my father's estate - he has some shares in his name and a house which we plan to sell (sell as executors, not beneficiaries). I think we are going to be liable to some capital gains tax, although splitting the sales over the next couple of years should help lessen it a bit (also we might make a loss on the house sale or the gain may hopefully fall under the allowance). My question is, do we have to wait until the administration of the estate is complete to declare and pay any CGT tax due in total or can (or should?) we do it year by year as we go along?

pawncob
Posts:5099
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: Advice on when to pay CGT, etc

Postby pawncob » Wed Aug 18, 2021 12:17 pm

https://www.gov.uk/self-assessment-tax-returns/returns-for-someone-who-has-died
With a pinch of salt take what I say, but don't exceed your RDA


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