Realm3032
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CGT for a Probate Property
I would like to enquire about our CGT liability on a property we sold in late Feb 2025. Property belonged to our parents who passed away 6 and 3 years ago. Probate was granted valuing the estate at about £700k, no IHT was due. Around £15k was spent on upgrading the property. Property sold for £790k in Feb 2025. To my understanding, there maybe CGT to pay, and I would be grateful for any advice on this. I am a basic rate tax payer if that helps. Thank you.