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Posted Thu, 12 Sep 2024 18:22:37 GMT by Julie Nyhan
My Mother passed away in 2023/2024 tax year. Probate was not issued until this tax year. We are now in a position to distribute some of the estate to the beneficiaries. During the administration period can the estate claim the 23/24 6k tax allowance as well as this years 3k tax allowance against the gain on the investments which we are about to dispose off.
Posted Mon, 23 Sep 2024 08:15:21 GMT by HMRC Admin 21 Response
Hi,
If the assets were sold over both years then yes. however if all sold in this tax year it is only the £3000 annual allowance that is allowable.
Thank you.
 

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