Hello,
We are selling a house as executors, under probate. There will be CGT applicable (value increase since date of death and selling) and I am looking at how the executors declare this and pay.
There is guidance to say that selling a property with Cgt due should be notified (and tax paid) to HMRC within 60 days post completion. However the form SA900 implies this is sent after the close of the financial year - which in our case will be nearly a year after completion. Which deadline applies?
In addition, the property is subject to deeds of appropriation (not variation) splitting between 3 beneficiaries and the estate. I believe the beneficiaries only need to complete their own tax return with their portion of Cgt declared on portion of the sale, after the close of the tax year, within their personal tax return. Again nearly a year after the property was sold. Is this correct?
Many thanks
S
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