CGT On Probate

I am executor of my mothers estate (As executor, I am 1 of 3 beneficiaries from the estate) and at the time of death I set the Probate value at £150,000. Which consisted of savings at £23,000 and the property at £127,000. I have now sold her house and received most of the monies from her estate. The savings rose slightly (£124,000) due to interest payments and the house has sold for £148,000 (After estate agents and solicitor fees). So, a rise of £22,000 on the probate value. In this case, do I pay CGT? (I presume I do) And if so, do I (as executor) have to pay CGT on £16,000 (£22,000-£6,000 allowance). Or Do the other beneficiaries allowances come into play, so we pay CGT on £4,000 (£22,000 - £6,000x3) Any advice would be much appreciated.

Hi

Any gain would be on the property only and you need to look at what it sold for before any costs are deducted as this is then taken into account when working out the gain.
As you are the executor, it is you who is liable for the CGT as the beneficiaries just receive any funds that are then distributed so there is only 1 CGT allowance due.

Thank you

Very interesting read as I'm in a similar position and my post from yesterday hasn't had a response yet. As executor all I now need to know is which forms require completing , I've had conflicting information and I've waited so long for responses from tax accountants and trying to get an answer by phone I've now got less than a month before the 60 days is up.