snowkinguk
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IHT - Issue with parents property
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CGT Allowance on property sale
Is CGT allowance based on when you submit the CGT to HMRC or when contracts were exchanged? i.e. we recently completed a property sale on the 25th March 2024. Will we get the CGT allowance based on the tax year 2023 - 24 which is £6000 if we submit after April 5th, 2024 or would it be the reduced allowance of £3000 for the Tax Year 2024 - 25?