Capital gains query

mpd1958

my wife has just inherited a half share of her fatehers estate, the other half goes to charity.

part of the estate includes his house aprrox value 160K the rest is cash.

If we moved to his house and sold our house aprrox value 100K
could we make up the rest of the 50% value of inheritance due the charity from our share of the cash inheritance, and what tax implications might this have.

my wife is employed , i'm self employed.

regards
mpd

Gertie_Walker

You can pay the charity off in whatever way you want. There are no tax implications as IHT will have already been paid by the executors.

John_Pierpoint

When you say "just inherited" do you mean he has recently died or probate has just been granted?
Who is the executor (the trustee of the estate)?
Which charity? Does the charity know yet?

I'm sure there should not be a problem, but be aware that the charity might be a "professional" at inheriting stuff and your wife is probably an amateur.