Executor and CGT

After being given conflicting information regarding Capital Gains Tax, one being that I didn’t need to pay CGT as everything would come under IHT tax, another being that as the property wasn’t inherited directly to me that would also be an exemption from CGT unless I sold it at a later date. Could you please put in simple terms whether and indeed if I need to pay tax on the following. My mother passed away in March 2023 and I was made executor of her will, her total estate comes in under the IHT, what she had got was to be divided between myself and my 2 brothers (1 living in Canada). The grant of probate application was completed/granted and her property was sold last month, what is the next step do I as executor pay tax due or is it paid separately by myself and my siblings when the money is distributed and if so how.

Hi,

You may be liable to Capital Gains Tax as you have sold a UK residential property that was not your main residence. You can see guidance here:

Report and pay your Capital Gains Tax

Thank you.

I've opened an Capital Gains Tax on UK property account as an executor but what happens next. There has been no messages regarding how much to pay or how. I'm aware that my 60 days are up on the 6th Dec.

Hi,

You need to submit the information on the CGT account and you will then be issued with a reference for payment. You can see guidance here:

Report and pay your Capital Gains Tax

Thank you.