AEA allowances for inherited property

My mother passed away in December 2023, leaving the value of her estate - which included the sale of a house - to four beneficiaries including myself in equal amounts. I am also the personal representative dealing with the estate. My question relates to CGT on the sale of the house which completed this month (November 2024). After improvements were made to the house between her death and sale, I've calculated that a gain of approximately £13k has been made. This is the difference between the house valuation for probate and the sale price, minus the cost of sale and cost of improvements. Could you clarify whether one Annual Exempt Amount applies (that of the personal representative as detailed in HS282) or whether four individual AEAs allowances apply, one per beneficiary and notifiable individually?

Hi,
If the property was named in a will, with you and your siblings as the beneficiaries, then each of you will need to work out if you have a capital gain. There is a calculator at Sell your property: Work out your gain, which leads on to registering for a capital gains account, to report and pay the tax due withing 60 days of the completion date. Guidance on allowable expenditure can be found at:
CG15150 - Expenditure
Thank you

Hi, Thank you. I thought that was the case but wanted to clarify before reporting the gain.