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Posted Wed, 27 Nov 2024 14:39:02 GMT by Dave_executor
My Mother died recently and acting an the executor of the estate I am in the process of completing the sale of her house. The estate doesn't meet the inheritance tax threshold and the house will be being sold for slightly less than it's probate value (£240K v £250K). As such, no Capital Gains Tax will be payable. Will I still need to declare the disposal of the house in my Self Assessment Tax return at the end of the current tax year if no CGT is payable?
Posted Wed, 04 Dec 2024 08:47:06 GMT by HMRC Admin 17 Response

Hi ,
 
No as no tax is due.

You can make reference to it in the comments section though by giving the address
so that the details are on your record  .

Thank you .
Posted Mon, 30 Dec 2024 09:34:25 GMT by Helen T
I have recently received an inheritance of just less than £60k, this comprises of £10k from a bank account and the remainder from a small life insurance policy. Does anything need to be declared please?
Posted Thu, 16 Jan 2025 09:26:39 GMT by HMRC Admin 25 Response
Hi Helen T,
There is nothing to report. 
Please see attached link for further help.
How Inheritance Tax works: thresholds, rules and allowances
Thank you. 

 

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