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Capital gains tax question
Comments
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I thought "there's no CGT on death" was reasonably clear.
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The point is that, when you die, the property acquisition value is taken as the value at date of death. So, there is no CGT to pay.
No reliance should be placed on the above! Absolutely none, do you hear?1 -
Sales by estates are not always "outside of CGT".
Even if the property remains in the estate during the period of administration (to be sold) - if the eventual selling price (by the estate) is higher than the valuation for probate there could be some CGT to pay by the estate.
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