Rebecca Harmston
Joined: 8/30/2024
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Help with GCT on inherited property
My dad died in March 2024. His three children are executors and the only beneficiaries of his will. His house was valued at £200,000 by a chartered surveyor in April 2024. It's just gone up for sale with a marketing value of £220,000. I need help. If it sells more than £200,000 I believe capital gains tax is payable. Can anyone explain our gct allowances as beneficiaries and executors please. I know there's a government calculator but I found it very confusing.