Paying capital gains tax from estate

Cazzaloulou68

Afternoon everyone, could someone please post a link or direct me to the correct place. We have a CGT to pay on inherited house. All the forms/links i can find seem to be for one person to declare the tax and pay. The calculator showed that i had to pay 18%..but i know that when its from an estate i have to pay 24%, i just cant seem to find the correct link. Is it something i need to phone to get sorted? We have exchanged on the house and completion is due next week, just trying to get things sorted and ready to pay/declare. For info house has been sold from the estate, 2 beneficiaries myself and 1 other. Thanks

JGB1955

is it covered by Dealing with the estate of someone who's died: Reporting an estate’s income to HMRC - GOV.UK (www.gov.uk)  ?

Cazzaloulou68

thanks but no..that’s just for steps before probate. All that’s done

Hoenir

The Estate will need to file a tax return. Do you have a UTR for the Estate? 

Keep_pedalling

Has the house sale completed ? If it has and the house was sold as a pan estate asset then it the estate that pays the CGT and the rate is 28%. If completion has not happened then there are steps you can take to move the CG liability to the beneficiaries. 

Cazzaloulou68

Completes next week. Think ive found what i was looking for (by mistake i think, not the easiest to find). Ive created a CGT on UK property account and gone thru the steps within, obvs i cant complete it all yet as we still need to complete, but it looks like the correct place. @Keep_pedalling, ive worked the tax out to be just under 5000, don’t think it’s worth looking to minimise it. (I assume you mean by transferring the house to the two beneficiaries first so they both have an allowance?) so hopefully i can do all the correct steps next week. Thanks all

Cazzaloulou68

@JGB1955 sorry that link you sent was correct, i just didn’t read down to the correct part -thank you

Keep_pedalling

Cazzaloulou68 said:

Completes next week. Think ive found what i was looking for (by mistake i think, not the easiest to find). Ive created a CGT on UK property account and gone thru the steps within, obvs i cant complete it all yet as we still need to complete, but it looks like the correct place. @Keep_pedalling, ive worked the tax out to be just under 5000, don’t think it’s worth looking to minimise it. (I assume you mean by transferring the house to the two beneficiaries first so they both have an allowance?) so hopefully i can do all the correct steps next week. Thanks all

There is another option but almost certainly not worth it at this stage for such a small tax bill.