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Posted Wed, 11 Dec 2024 18:02:26 GMT by Mike Taylor
I have recently sold my late father's property. He died 25/12/22 and the property sold 22/11/24. There was a gain on the value of the property from the original probate value to the eventual sale price. When completing the CGT declaration on Gov.uk it suggests we may be entitled to use the AEA from the year of death (2022 £12,300) and then up to two subsequent years (2023 £6,000 & 2024 £3,000) . When completing the online form it only allows me to enter the 2024 allowance of £3,000. How do I enter the two other periods that are within the administration period?
Posted Wed, 18 Dec 2024 15:13:06 GMT by HMRC Admin 10 Response
Hi
You are only due the annual exempt amount in the year of disposal. The guidance states that the allowance may be available in the year of death and following 2 years, not all 3 years allowable in the 1 year.  The unused allowance cannot be carried forward. This applies to everyone.

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