capital gain confused again!!

rockinrev

im due to inherit a house with 4 others in family .if 2 of us decide to buy out the other 3 to own the house for renting out.
how will capital gains tax work out upon if we 2 decide to sell house in future? having part inherited and part bought the house.

booksurr

simple
your acquisition for the purpose of CGT will be
a) the probate value at dat eof death on that share, and
b) the full open market value at point of "buy out" on that share

your eventual selling price will be your actual selling price

so the CGT gross gain will be the difference between the sales price - (a+b)

each person's CGT taxable value will be less each owner's personal allowance