I am acting as an executor, selling a house in the estate. There will be a CGT taxable gain.
My query is what can I deduct as acquisition costs?
Looking online at HMRC SP2/04 and HMRC CG30570 seem to cover this
"The following amounts may be allowed as the personal representatives’ allowable expenditure for the cost of establishing title."
"Computations should be accepted if based either on the scale or, where it can be proved, actual expenditure incurred."
The gross estate was a little over £1,020,000 and the property was c£900K at probate value
The HMRC scale says I can use a figure of £8000 for the whole estate, so pro rata £7,058 acquisition costs for the property.
Is this correct?
It seems generous/too good to be true.
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