capital gains tax on 2nd home after death

As the title implies.   I have a second home  .   Obviously if its sold I pay  CGT.      However when I die and my inheritance goes to my other half .   She will sell it for sure.  Does she pay CGT for all the years I have owned said property  

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  • Keep_pedalling
    Keep_pedalling Posts: 16,197
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    No, but if you are not married or in a civil partnership your estate may have IHT to pay.
  • No, but if you are not married or in a civil partnership your estate may have IHT to pay.
    IHT  (deep breath)   thank you for the reminder.    I have mentioned marriage.   
  • Keep_pedalling
    Keep_pedalling Posts: 16,197
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    No, but if you are not married or in a civil partnership your estate may have IHT to pay.
    IHT  (deep breath)   thank you for the reminder.    I have mentioned marriage.   
    If either or both of you have assets exceeding £325k spousal exemption makes it a bit of a no brainer. 
  • JGB1955
    JGB1955 Posts: 3,434
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    Doesn't have to be marriage - civil partnership will suffice (and your friends and relatives need never know... until you are no longer here)!
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  • Keep_pedalling
    Keep_pedalling Posts: 16,197
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    The other advantage in being married or in a CP, is that you can make them a joint owner of the second property without incurring a CGT liability, but could possibly reduce IT buy splitting the rental income.
  • p00hsticks
    p00hsticks Posts: 12,581
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    JGB1955 said:
    Doesn't have to be marriage - civil partnership will suffice (and your friends and relatives need never know... until you are no longer here)!
    I'm not sure why people seem to suggest that civil partnership is somehow a lesser / easier option than marriage. As far as I'm aware, the actual process for getting married and for forming a civil partnership are exactly the same, as are the resulting legal benefits and obligations and steps required to terminate the arrangement. 

    (speaking as someone who got married a few years back before civil partnership was an option - done purely for IHT reasons in private for a cost of about £100 and friends and family are still unaware that we did it).  
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