Probate & IHT - I can do this!

mybestattempt

Bapster76 said:

Thank you,  it does seem to contradict the advice I was given as none of the beneficiaries lived there before or post death.   

In your opinion what should I be selecting below on reporting the CGT

Who are you completing this return for?

A)Yourself

B)Someone you're helping

C)A person who made the disposal before they died 

D)The estate of a person and the property was sold after they died.

It's D)  as you sold the property as executor of the estate. 

Bapster76

Thanks,  I'll call HMRC again in the morning and get them to clarify their advice against the information you linked to. 

Bapster76

As per your advice, HMRC have today stated there is CGT to pay as its an estate.  Quite frustrating not all of them know their own rules.  
I have reported the CGT calculation online and now have to wait for them to contact me for payment.  Any ideas how long this usually takes?   
Thanks

poppystar

It makes me so mad that you can’t rely on advice over the phone from HMRC! Sorry you had to experience this. Checking up on sites like this seems to be essential if you’re not to fall foul of the rules. I mean are we supposed to make multiple calls then go for the advice that got the most votes!!?? 

Can’t help on the timeline as I ended up having to do a paper submission and they had a backup in those of several months at the time. 

Bapster76

poppystar said:

Can’t help on the timeline as I ended up having to do a paper submission and they had a backup in those of several months at the time. 

Did you do some interim distributions to beneficiaries and hold some back to cover the CGT?  Or wait till everything was finalised.