Sale of more than one property in an estate after probate.

Good afternoon, As the executor of the estate, I've encountered a situation in which probate has been granted, and we are currently in the process of selling multiple property assets. Two properties have been sold, with one selling below and the other above the figures provided for Inheritance Tax (IHT). I have a couple of inquiries: 1. How do I report these transactions to HMRC? 2. Should I report the total amount for both properties, or do I need to submit two separate forms? 3. Does the loss on one property offset any of the profit on the other? 4. Which form should I fill out, and is there an online submission option? 5. What reference should be used to identify the account: the IHT number, the deceased's NI number, or something else? Any assistance you can provide would be greatly appreciated. Thank you.

Hi,

You only need to report the one with the gain as you dont need to report a sale if no tax is due.

Yes, the loss can be used against the gain. 

Report and pay your Capital Gains Tax

The reference would be that of the deceased (NI).

Thank you.