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Capital Gains Tax Allowance
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Planeahead
Posts: 21 Forumite
Looking to sell property which is in estate and will remain that way until sold.
If the person died on 1st May 2023 but we sell house tomorrow and submit capital gains tax, what would be total capital gains tax allowance that we would be entitled to?
If the person died on 1st May 2023 but we sell house tomorrow and submit capital gains tax, what would be total capital gains tax allowance that we would be entitled to?
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AS I understand it, the estate is entitled to a single CGT allowance which applies when the property is sold (when contracts are exchanged). so if you sell this tax year it will be £3k. Has probate been obtained ? CGT will only apply if the property is sold for more than the value declared at probate.0
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Do you think it will sell for more than the probate value?0
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