CGT on inherited property

101frank

if I add my husband to the deeds of a house I have inherited would that reduce my capital gains tax when i sell

oldbikebloke

i'll assume the person who died lived there as their main home and you simply inherited the whole thing on their death. In other words, it was never your home whilst you owned it.
In which case, adding husband would indeed reduce eventual CGT since the gain is then split between the two of you according to your respective shares, and each gets to claim their exempt/CGT free amount before paying any tax due.

phill99

It depends on the value of the estate. If it is below £325000, the there is nothing to pay.

Slithery

phill99 said:

It depends on the value of the estate. If it is below £325000, the there is nothing to pay.

Surely that's inheritance tax you're talking about?

The OP is asking about CGT on a property that I assume has already been transferred into their name.

Tom99

101frank said:

if I add my husband to the deeds of a house I have inherited would that reduce my capital gains tax when i sell

Has the house been transferred to your name yet or is it still owned by the estate of the deceased?

Flugelhorn

CGT should only be payable if the actual sale is much higher than the value declared at probate