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Posted Mon, 06 May 2024 13:57:27 GMT by Richard
My children were beneficiaries of a life fund of their godfather who died in 2007. These funds were directly transferred and held in the name of their godfather’s lawyer. Neither I nor my children were made aware of these funds until recently when the lawyer contacted us. The funds have now been transferred to my children’s names. How does one determine the cost basis of these funds for tax purposes?
Posted Tue, 14 May 2024 08:20:51 GMT by HMRC Admin 8
A value will have been applied at probate and the lawyer should be able to supply this.
Thank you.

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