snowkinguk

My father passed away in April Mum still lives in the house they shared but they were divorced at the time. They bought some land surrounding the property in 2012 but it appears the Title for the land did not get transferred into their names. The solicitors dealing with it at the time dropped the ball and have since ceased trading. The council had some queries at the time so the transfer did not complete. So we are in the position of trying to value the property for IHT purposes as he has left this to me and my daughter (Mum has living interest). The value with or without this extra land makes a big difference to the value of the property for IHT. We have contacted the land owners and they are saying they did not receive the monies for the land so it could take a while to sort out. What do I do regarding probate in this situation?

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?