Capital gains

Silverbird65

Mum died 2018, she had about £300 worth at the time of shares with Lloyds .  My sister lost the shares certificates and it cost more than they where worth to change names etc we inherited all her estate and were executors. We still receive dividends in our names as executor of my mum. Very small amounts , are they classed as our income for tax purposes? Thank you

Keep_pedalling

If they are still in your mother’s name no, the income is the estate’s. Not sure where `Capital gains comes into your question though. 

Silverbird65

For tax purposes I would get 1000 allce against cap gains however small. Thanks

Keep_pedalling

Silverbird65 said:

For tax purposes I would get 1000 allce against cap gains however small. Thanks

But dividends are income not CG, CG only applies when you dispose of the shares.

Silverbird65

Oh so what are the small dividends classed as. For tax purposes? Thank you

Linton

Silverbird65 said:

Oh so what are the small dividends classed as. For tax purposes? Thank you

Dividends come under Income Tax.  There is a £500 dividend allowance but it does not apply to estates.

Keep_pedalling

Linton said:

Silverbird65 said:

Oh so what are the small dividends classed as. For tax purposes? Thank you

Dividends come under Income Tax.  There is a £500 dividend allowance but it does not apply to estates.

Estates  earning below £500 in any firm of income do not have to report or pax tax on it but that rule only came into effect in 2024’ and this has been going on since 2018. It really needs sorting out.