CGT on inherited property - any allowance in 4th year after death?

My mother died in late April 2020 leaving her property to be divided between me and my sibling. As I was living in the property, a clause in the will stipulated that I could live there a further two years and then the property would be sold. The property went to market in 2022 but it has taken untill now for an offer to be agreed. I have lived in the property throughout. I'm aware that an allowance is available to offset against capital gains tax for the year of death and following two tax years. However, we have now gone into the fourth tax year. Does this mean that no allowance will be available for us to use and the entire gain since probate is liable for CGT upon sale? Thankyou

Hi
If it is being sold as part of the estate then there is now no annual exempt amount available and the full gain would be liable to tax.
Thankyou.

Thank you. What if title in the property is transferred from my mothers estate to my sibling and I prior to sale - which is permissible under her will - the property can either be sold and the net proceeds divided between us (in which case the estate would deal with the CGT) OR alternatively title in the property can be transferred to us. If the second option is chosen, we would now be selling as owners but, and as I understand responsible for paying the CGT that has arisen, as individuals. In that scenario, would the time scale for individual CGT allowance still have expired now we have entered the fourth year after death?

Hi,

The allowance is due in the year of death and the following two tax years only irrespective of the date of transfer.

Thank you.