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capital gains tax
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Posts: 2 Newbie
in Cutting tax
can any one help with my question.
Mum's council house was bought four and half years ago at discount price of
34,000(value 58,000) with our money but had to be put in mum'sname as she was still living in it. She later died and house then transferred to us. It has been in our name for two and half years(valued for probate at 116,000).
If we decide to sell(value approx 93,000) what amount of capital gains tax could we expect to pay(one tax payer and one non-tax payer).
Mum's council house was bought four and half years ago at discount price of
34,000(value 58,000) with our money but had to be put in mum'sname as she was still living in it. She later died and house then transferred to us. It has been in our name for two and half years(valued for probate at 116,000).
If we decide to sell(value approx 93,000) what amount of capital gains tax could we expect to pay(one tax payer and one non-tax payer).
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