capital gains tax

trishf

Thank you fair comment as stated previously i did not understand the cgt so i did not know that it had been 40% a few years ago but one could say that if i had inherited it back in 2004 for 55k and sold it straight away then there would have been no profit so then there would have been no cgt to pay and i would have probably have bought a property with the money(because our circumstances were different then anyway )and the property would still have increased in value over the years.

dzug1

trishf wrote: »

thank you for your reply but help please i dont understand if i went and lived in the property say next week what is the period that would attract the cgt would it be from 2004 when he died up till the day i moved into house or would the period start from Feb 2009 when the property was transfered into my name until i moved in there

For CGT you acquired the house at the value at the date of your uncle's death