Capital Gains Tax and Probate

hils

Hi
My mum sadly passed away a couple of weeks ago and i am executor of her will/estate.
I have decided to do probate on my own, thanks to advice from this site.
But I am confused, her estate does not meet IHT, but I do have a property to sell, do I have to pay CGT on the sale of her apartment?

Many thanks H

pete80

hils wrote: »

Hi
My mum sadly passed away a couple of weeks ago and i am executor of her will/estate.
I have decided to do probate on my own, thanks to advice from this site.
But I am confused, her estate does not meet IHT, but I do have a property to sell, do I have to pay CGT on the sale of her apartment?

Many thanks H

Sorry to hear of your recent loss H.

If the house was your mum's own residence there would not be any CGT to pay.

00ec25

no - there is no CGT to pay as part of the sale of the assets of an estate.

The taxes you need to do are IHT and you might have to do an Income Tax return for your mother up to the date of her death depending obviously on her circumstances.


PS condolences.

hils

Hi
thanks for your kind thoughts it really is a stressful time , and thanks for the infor re CGT.
Thanks Hils