Paul Wrangle
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Capital gains, benefits and disregarded assets
Hi My father was in reciept of benefits before he died. He had a share in a piece of land that put him over the threshold for benefits. So was refused. Eventually as this asset was owned by other parties that refused to sell my father was awarded benefits. It looks to be that the ssset was disregarded in some way. He has now died and three years after death the land is being sold. 1) My question is how do we pay CGT on this land left to us? 2) Do we need probate? 3) Will we need to pay the benefits back even though it couldn’t be sold in his lifetime and was correctly declared on his benefits claim? As the asset is now being sold after death? Can it be rereleased after death so to speak? Thanks in advance.