Peter-123
Joined: 4/18/2024
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CGT or IHT if property given away ?
My Brother died and I am the executor of his Will. He used to rent out a house to my sister and in his Will he wants to give it to her for nothing. Do I still need to pay CGT or IHT tax, even though no money has been received. (I appreciate I will owe HMRC tax on rent money he received for last year.) Thanks -
CGT or Inheritance tax due after my death
Me and my brother live in the UK and I rent out a house to my brother. Every year I pay tax on the rent he gives me. When I die I want to give my brother the house and whatever other money I may have I will give to my sister. My sister and brother will be responsible for settling any debts. Will CGT or IHT be owed to HMRC for the market value of the house I leave my brother. Thanks Peter