Mike Taylor

I have recently sold my late father's property. He died 25/12/22 and the property sold 22/11/24. There was a gain on the value of the property from the original probate value to the eventual sale price. When completing the CGT declaration on Gov.uk it suggests we may be entitled to use the AEA from the year of death (2022 £12,300) and then up to two subsequent years (2023 £6,000 & 2024 £3,000) . When completing the online form it only allows me to enter the 2024 allowance of £3,000. How do I enter the two other periods that are within the administration period?

Hello, trying to understand the annual exemption amount that can be applied to sale of my deceased father's property. He died Dec 2022 and the property was sold in November 2024. Searching the various articles on the Gov.uk website turns up the following that was published in 2018. In the first para it says you MAY get the AEA from date of death to disposal. In my case 3 years. When filling in the online form it only gives me the option for one year AEA from the current year. Can anyone explain why it says you MAY get the AEA for multiple years and how do you apply that when reporting the sale? Many thanks Mike ++++++++++++++++++ Executors and personal representatives If you’re acting as an executor or personal representative for a deceased person’s estate, you may get the full annual exempt amount during the administration period. The administration period is the time it takes to settle the deceased person’s affairs, from the day after the death until the date everything has been passed on to beneficiaries. You’re entitled to the annual exempt amount for the tax year in which the death occurred and the following 2 tax years. This means one annual exempt amount against gains in each of those years. After that there’s no tax-free allowance against gains during the administration period.