Valerie Holdich
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RE: Capital gains tax and selling inherited property
Please can someone help me with this query? Thanks -
Capital gains tax and selling inherited property
My late mother bought a flat for £179,000 in 2015 ..She left this flat to her children in her will and we have had it valued at the beginning of the administration period at £170, 000 .We recently sold it for £160,000 . Therefore we have lost money and not had any financial gain . Do I still have to inform the HMRC re this sale? and I have used your online calculator and it shows no CGT to pay is this correct please ? Thanks