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Posted Mon, 03 Jun 2024 12:05:18 GMT by Barbara Liddle
My sister passed away and left her home to her two daughter (jointly) who all lived in the home together. The home has been the main residence of both daughters since birth. Should they wish to sell and downsize would capital gains tax be applicable? Have been told they need to wait 5 years before selling.
Posted Wed, 05 Jun 2024 14:27:03 GMT by HMRC Admin 10 Response
Hi
As it is their main residence then no capital gains will be due. They can sell anytime and do not need to wait 5 years.

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