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Posted Mon, 26 Aug 2024 13:02:21 GMT by VM Lee
Hi, I called HMRC weeks ago asking about the calculation of CGT of an inherited non-UK property which has been sold. The tax adviser told me that it's the difference between the value at the time I inherited the property (not the initial purchase price over 30 years ago) and the selling price. I forgot to ask about the meaning of "the time when I inherited the property". Does it refer to the date when my mother passed away or the date when the Probate was set up? Thank you.
Posted Fri, 06 Sep 2024 09:30:30 GMT by HMRC Admin 20 Response
Hi,
It is the date your mother passed and probate will give the value.
Thank you. 

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