We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Capital Gains tax after selling late father's home
Comments
-
Puzzled by this - do you mean that you inherited a property and then mortgaged it?
Or you inherited a property and then let it out?
https://www.gov.uk/tax-sell-property/work-out-your-gain may help.
inherited a property and then took out a small mortgage on it with the property as security to do upgrades/building works .0 -
This is just an update to those of you who were kind enough to offer me advice a few weeks ago regarding Capital Gains on my fathers house. We took advice from a tax accountant as recommended and we do not have to pay any Capital Gains Tax. I wasn't at the meeting so this is third hand, but because my Dad was allowed to live in the property rent free and this was my Dads sole property that he lived in, we would only have to pay CGT on the increase in value of the property from when the trust was dissolved to the date the house was sold and this was zero.
Thank you again for all your comments and suggestions.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.8K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.8K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards