Lynne0904
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RE: Capital gains tax and selling inherited property
My sister and I are executors of my mother's estate. There is no cash but a property that she has left to her 8 grandchildren with no fees to be subtracted. The property was valued 6 months ago at £110,000 for probate but sold at £132,000 So my understanding is that there is CGT to be paid on the £22,000 - do my sister and I split this between us and pay or does one of us submit the form and the other owes for the CGT? This is also in Scotland if that makes any difference - we are both basic rate taxpayers Thanks